Endowment and Waqf Funds in Malaysian Higher Education: A Conceptual Study

Hasbullah, Nurul Adilah; Rahman, Asmak Ab

doi:10.22452/js.vol29no1.6

Cited by 4 publications

(2 citation statements)

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“…The increasing demand requiring good governance framework for social institutions has received much attention today. It is agreed that the successfulness of waqf institutions is relying on the efficient governance that is closely related with accountability in managing the organization (Hasbullah and Ab Rahman, 2021) Literally, governance refer to the method by which the firm are accountable for, or in other words is governance is the operationalization of accountability (Hyndman and McDonnell, 2009;Lewis, 2006;Cordery and Morley, 2005). In Islamic perspectives, the concept of accountability is a central theme because accountability to Allah and the society is paramount to a Muslim's faith (Ihsan & Ayedh, 2015).…”

Section: Waqf Governance Frameworkmentioning

confidence: 99%

Modelling Waqf Performance and Governance for Public Universities in Malaysia

Sani¹,

Saidin²,

Samad³

et al. 2022

IJARBSS

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Islamic philanthropy in Malaysian education system has been well rooted in religion-based traditional educational institutions. Currently, Waqf and Endowment (WAE) grow rapidly at higher education institutions as an income generation and a long-term financial sustainability initiative. The initiative is as a result of budget cut by 20 percent for public universities since 2016 and 2017 but no raise in fee is allowed. This initiative is in line to recommendation in the University Transformation Programme (UniTP), Purple Book shift No 5, the Malaysia Education Blueprint 2015-2025 (Higher Education). Being a non-profit organization, the performance of WAE in Malaysian public universities is expected to be different as compared to commercial entities. The importance of having WAE performance measurement may include the economy, effectiveness and efficiency aspects of its activities towards the intended objectives. The method of the study is based on documents review on performance although the literatures on WAE performance measurement in higher education institution is still lacking. As such, the need to develop a holistic model that covers both aspect of performance measurement and good governance are required consistent with the vision of establishment of WAE to act as one of a perpetual financial source for universities. Hence, this research aimed to propose Waqf Performance Measurement and Governance Model used to evaluate WAE's reliability and performance in Malaysian public universities. Future research is required to test and verify this model on the initial sample from waqf institutes in public universities. The expected finding of this study is this model can become as a main reference in measuring the performance of WAE in Malaysian public universities embedded with good governance principles, that could result the positive implications in strengthening the WAE's credibility and stakeholder confidence for universities financial sustainability.

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Section: Waqf Governance Frameworkmentioning

confidence: 99%

Modelling Waqf Performance and Governance for Public Universities in Malaysia

Sani¹,

Saidin²,

Samad³

et al. 2022

IJARBSS

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“…This initiative aligns with the Malaysia Education Blueprint (MEB) 2015-2025 for higher education, which aims to reduce HEI reliance on the government. Additionally, the MEB plan's fifth agenda, which emphasises financial sustainability, pushes Malaysian HEIs to pursue alternate revenue streams to become more flexible, reliable, and sustainable in terms of institutional finances (Hasbullah & Ab Rahman, 2021).…”

Section: Introductionmentioning

confidence: 99%

University Hostel Waqf: Developing A New Sustainability Model

Hamid¹

2022

The European Proceedings of Multidisciplinary Sciences

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Waqf is an Islamic financial instrument that has the potential to solve various financial issues related to education in Malaysia. Waqf education institutions are well-known for their importance in the development of knowledge among Muslim communities. Globalisation, COVID-19 pandemic, and economic pressures on governments, including Malaysia's, have led to universities becoming self-sufficient in terms of funding for development, operation, and research. However, private higher education (PHEI) has resulted in difficulties in providing enough conducive and better accommodation. The cost of higher education has inevitably increased due to current changes in the global economy, despite various forms of government grants and loans. In general, both parents and students alike face the burden of ever-increasing fees to enrol in higher education learning institutions. At the same time, the education institutions themselves also face increasing costs to operate and provide quality education. Hence, this paper aims to identify the needs of hostel development in PHEI due to the impact of high cost living and pandemic covid19. A profound literature review on the topics is explored in developing a conceptual framework for this research field. Further, it explores specific features of sustainability university hostel waqf as well as limitations of present research; but it helps to stimulate further study. The development of the hostel waqf framework in private higher education institutions (PHEIs) will give an idea to the community in helping the students, especially during the COVID-19 endemic period, especially for those whose income is affected.

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Development of Wakf Fund in Public Higher Education Institutions

Mohd Roslan,

Nor Muhamad,

Che Yaacob

2023

E-BPJ

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In light of evolving socioeconomic factors, the annual rise in education costs presents a pressing concern. Johor Islamic Religious Council has appointed special trustees from the UTM Education Wakf Fund and UTHM Education Cash Wakf Fund to address this challenge. This paper aims to analyze the development of wakf funds as practiced by UTM and UTHM. The research methodology employed for this study encompasses content analysis and interviews, unveiling the systematic and effective management of wakf funds for education. Notably, enhancements are evident in fund accumulation, refined management strategies, and the proactive adoption of fundraising approaches. These findings underscore the institutions' commitment to mitigating the escalating cost of education while ensuring sustainable financial support for their student communities.

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Endowment and Waqf Funds in Malaysian Higher Education: A Conceptual Study

Cited by 4 publications

References 0 publications

Modelling Waqf Performance and Governance for Public Universities in Malaysia

Modelling Waqf Performance and Governance for Public Universities in Malaysia

University Hostel Waqf: Developing A New Sustainability Model

Development of Wakf Fund in Public Higher Education Institutions

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