Cash Waqf for education: Prospects and challenges

Bakar, Ridzwan

doi:10.24191/jeeir.v6i2.8775

Cited by 5 publications

(3 citation statements)

References 1 publication

(1 reference statement)

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“…Speaking of the difficulty of waqf management, this is true. Bakar [14] which he did in three countries, Malaysia, Indonesia and Cambodia. The results of his research stated that one of the biggest challenges in waqf is that there is no waqf governance that suits your needs.…”

Section: Introductionmentioning

confidence: 99%

Green Economy and Green Waqf Opportunities of Digital Assets

Hatimah¹,

Sukoharsono²,

Djamhuri³

et al. 2023

Proceedings of the 2022 Brawijaya International Conference (BIC 2022)

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Green economy and green waqf opportunities of digital assets. This study aims to explore an understanding of green economy collaboration and green waqf opportunities using digital assets. Exploratory studies are an option to photograph new phenomena that will arise in the management of digital waqf assets. From the results of the study, it was found that there has been a waqf practice in digital form, namely software. However, they have not been able to confirm that it is purely a digital waqf because there is no definite governance of the digital waqf. So they hope that there is a management of waqf assets that is technically easy and understandable. This research has implications for the need for special literature, as well as governance in the management of digital waqf assets. This can be done through ongoing research development efforts. The results of this study reveal that the management of digital waqf assets is a new step in the world of philanthropy, and there will be a big impact but it has complexities that will find a way out.

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Section: Introductionmentioning

confidence: 99%

Green Economy and Green Waqf Opportunities of Digital Assets

Hatimah¹,

Sukoharsono²,

Djamhuri³

et al. 2023

Proceedings of the 2022 Brawijaya International Conference (BIC 2022)

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“…It is shown from the best example of waqf-funded educational institution, the University of Al-Azhar and following to the other in the West that are operating using the same concept under the term "endowment" like the University of Harvard, University of Oxford and University of Cambridge. Early example of waqf for education in Malaysia includes the donation of ulama' for pondok institutions' sustainability and survival that primarily involved in the teaching and learning of the Qur'an and hadiths (Ahmad et al, 2019;2018).…”

Section: Introductionmentioning

confidence: 99%

“…However, waqf for education in Malaysia is still in its early stages as it requires the institutions to firstly determine the key resources to be adhered before an institution can implement the concept and transform itself into an income generation ecosystem (Mujani & Yaakub, 2017;Bakar 2018;Hasan et al, 2019;Bakar et al, 2019). There are several challenges faces during the implementation waqf concept in higher education institutions, for example waqif / endower is somehow holding back from making repeat contributions to waqf funds, the lack of awareness and understanding of waqf among public, including university staff, students, as well as administrators of waqf institutions (Ali & Markom, 2020;Razak et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

The Role of Intangible Resources for Waqf in Higher Education: A Conceptual Review

Musa¹,

Rasool²,

Ibrahim³

2021

IJARBSS

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Waqf as one of the sources of Islamic economic system has historically made significant contributions to educational institutions in Egypt, Turkey, and Saudi Arabia. Waqf has also made a significant contribution in Malaysia, with many public universities demonstrating progress in waqf higher education setting. The desire of the community to contribute and sustain the availability of the necessary resources have made this possible. The rising expenses over the next decade in delivering a higher quality education has increased the government spending on higher education, which require all public and private universities to become more independent and develop their own funding strategies to ease the burden caused by economics depreciation. To access to financial funding, waqf in higher education must first adhere to its intangible resources to encourage public desire to contribute to waqf education fund and operational setting. The current study aims to conceptually examine how intangible resources influence waqif's willingness to contribute to the waqf education fund. The role of intangible resources in Resource Based View (RBV) theory is extracted to emphasis factors that influence the willingness to contribute in waqf education setting. The RBV previously is primarily concerned with the resources and competencies that give an organisation a competitive advantage and influence its performance. However, the current study concentrates on intangible assets from the perspective of an individual. Thus, the resources in RBV theory used in this study has defined human performance in terms of commitment and trust. It is then translated into a finding using a research framework, leading to hypothesis testing and be extremely useful in guiding future empirical research.

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Assessing the predictive benefits of Waqftech smart contracts on corporate waqf crowdfunding among Malaysian enterprises

Megat,

Al-Shaghdari,

Bin Ngah

et al. 2024

JIMA

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Purpose The purpose of this study is to investigate the adoption of waqf technology (Waqftech) using blockchain smart contracts for corporate waqf crowdfunding. Despite the growing interest in Waqftech, Malaysian enterprises have not fully embraced this emerging technology because of uncertainty regarding the benefits it offers to contributors. The research incorporates two theoretical frameworks: the electronic data interchange (EDI) model for firms’ technology adoption, and the triple bottom line theory (TBL) for corporate social responsibility. Design/methodology/approach A quantitative method using a cross-sectional survey design with a five-point Likert scale questionnaire was used. Data was collected from 210 decision-makers representing small and medium-sized enterprises and analyzed using partial least squares-structural equation modeling. Findings The findings from this research suggest that Malaysian enterprises are influenced by both corporate and social predictive benefits when using blockchain crowdfunding, but not by environmental benefits. The adoption of blockchain smart contracts does not correlate with predictive environmental benefits because of misconceptions about the disruptive technology’s impact on biological and digital environmental preservation. Research limitations/implications This research focuses on organizational behavior rather than individual users of waqf crowdfunding, and it is limited, primarily focusing within Malaysia and regions with similar waqf structures. Practical implications The Waqftech framework allows innovative mechanisms for executing corporate waqf investment returns to the intended beneficiaries through the smart contracts’ platform. In addition, this study supports relevant corporate social responsibility and creating shared value technology adoption theories, including EDI and TBL. Aside from this, the study provides empirical implications for waqf management using fintech platforms. Originality/value This groundbreaking study focuses on creating a Waqftech model for corporate waqf crowdfunding. The results of this study are important for the development of government policies that support the use of Waqftech in charitable fundraising. More research on biological and digital environmental perspectives is proposed to foster investors’ confidence in the visibility of digital tracking and lead to swift investments in future metaverse fundraising platforms.

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Cash Waqf for education: Prospects and challenges

Cited by 5 publications

References 1 publication

Green Economy and Green Waqf Opportunities of Digital Assets

Green Economy and Green Waqf Opportunities of Digital Assets

The Role of Intangible Resources for Waqf in Higher Education: A Conceptual Review

Assessing the predictive benefits of Waqftech smart contracts on corporate waqf crowdfunding among Malaysian enterprises

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