Empirical Analysis on Quality Waqf Reporting Practices of Waqf Institutions in Malaysia

Hanefah, Mustafa Mohd; Kamaruddin, Muhammad Iqmal Hisham; Masruki, Rosnia; Johari, Fuadah; Kamarubahrin, Aimi Fadzirul

doi:10.1007/978-3-030-69221-6_115

Cited by 2 publications

(4 citation statements)

References 25 publications

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“…Besides, this study intends to investigate factors affecting good reporting practices by waqf institutions in Malaysia. This study is the extension of several previous studies by Kamaruddin et al (2018), Hanefah et al (2020), Hanefah et al (2021), Kamaruddin and Hanefah (2021) and Kamaruddin et al (2021) on waqf reporting practices in waqf institutions in Malaysia.…”

Section: Methodsmentioning

confidence: 58%

“…Lastly, a study on waqf quality reporting practices by Hanefah et al (2021) in waqf institutions in Malaysia discovered that the current waqf quality reporting practices are at a moderate level. By observing five quality factors including relevance, understandability, faithful representation, timeliness and comparability, the result shows that the comparability factor has the lowest score.…”

Section: Current Waqf Reporting Practicesmentioning

confidence: 99%

“…Therefore, after considering the types of disclosure and information needed by waqf stakeholders, good waqf reporting should be covering several important aspects. This includes financial and non-financial disclosures (Kamaruddin et al , 2018), waqf performance and sustainability (Arshad and Mohd Zain, 2017; Hanefah et al , 2020; Sulaiman and Zakari, 2019), waqf impact (Kamaruddin et al , 2021), waqf governance (Kamaruddin and Hanefah, 2021) as well as waqf quality reporting (Hanefah et al , 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Based on previous studies, most scholars agreed that waqf institutions in Malaysia have weak reporting practices. This includes reporting on financial and non-financial disclosure (Kamaruddin et al , 2018), performance and sustainability (Hanefah et al , 2020; Sulaiman and Zakari, 2019), impact (Kamaruddin et al , 2021), governance (Kamaruddin and Hanefah, 2021) as well as quality reporting (Hanefah et al , 2021). Based on these past empirical findings, it is obvious that further investigations are needed to study issues relating to weak reporting practices by waqf institutions in Malaysia.…”

Section: Introductionmentioning

confidence: 99%

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Purpose This study aims to explain the justification behind the current weak waqf reporting practices in waqf institutions in Malaysia and also investigates the factors affecting the good waqf reporting practices. Design/methodology/approach A series of interviews with four waqf officers who are involved with waqf reporting process from four different waqf institutions in Malaysia were conducted. Findings The findings show a number of reasons for the current weak waqf reporting practices including the absence of standardised waqf reporting standards, no reporting or disclosure awareness by the waqf management, limited reporting channels from the state authorities to the national authorities, diversification in the governance structure and reluctance of waqf administration to disclose waqf reporting. The findings also identified several factors contributing to good waqf reporting practices. This includes leadership, good cultural setting within the institution, political will as a push factor, limited qualified personnel as well as sustainability issues and finally, the visibility of the waqf report itself. Practical implications The study findings and recommendations are useful for the State Islamic Religious Councils and waqf institutions in Malaysia to enhance the waqf reporting practices in Malaysia. Originality/value This study is among the few studies that identify the reasons and factors affecting the good waqf reporting practices in Malaysia.

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