Waqf Assets Management: Harnessing Tool for Muslims’ Welfare

A systematic literature review on the socio-economic roles of waqf: evidence from organization of the Islamic cooperation (OIC) countries

“…Aziz and Yusof, 2019;Baharuddin and Taufiq, 2015;Fatira and Nasution, 2019;Khairi et al, 2015), the integration of waqf with other Islamic social instruments Mohsin, 2019;Praja et al, 2019;Raghibi and Oubdi, 2018;Rahman and Wan Ahmad, 2011), the optimization of cash waqf (Alam, 2018;Almanaseer and Bashar, 2014;Amuda et al, 2015;Hanesti et al, 2018;Sanusi and Shafiai, 2015), the development of waqf in the form of soft loans to the community (Abdullah, 2018;Ahmed, 2015;Zauro et al, 2020), the protection of parentless children (Mohd et al, 2018) and the use of corporate social responsibility in companies for community needs (Tutuko et al, 2018). Current concern about the unprofessional and productive management of waqf is the main theme of innovation and this was addressed by the latest research on increasing the professionalism of waqf institutions (Ali et al, 2018;Astuti et al, 2019;Al Hasan, 2017).…”

“…Despite the success of OIC countries in increasing the socio-economic developmental role of waqf, several obstacles still remain to the management of this Islamic endowment. Among these are the centralization of its administration (Hasan and Siraj, 2016), unprofessional resources for its management (Ali et al, 2018), the poor competence of its institutions (Al Hasan, 2017), a lack of supporting regulations in its management and development (Haneef et al, 2015), a lack of social awareness (Almanaseer and Bashar, 2014), financial resource constraints (Nasution and Medias, 2020) and poor integration with other financial sources (Zauro et al, 2020). Amuda and Embi (2013) stated that these challenges significantly reduce the level of trust among waqif (donors), discouraging them from making waqf endowments (Amuda and Embi, 2013).…”

Managing <i>Waqf</i> Land in Indonesia: ANP-Driven Strategies

“…The role of nazirs (waqf managers) contributes to problems due to managerial, h u m a n r e s o u r c e s , a n d t e c h n i c a ladministrative issues (Fauzi et al, 2022). The problems arise from unprofessional management (Ali et al, 2018;Ihsan & Ibrahim, 2011;Ismail et al, 2015) and lack of transparency, including bribery (Karim, 2010;Zulkhibri, 2017). From a technicaladministrative perspective, challenges arise from an inadequate administration system, including a traditional approach with limited utilization of information technology (Ali et al, 2018;Fauzi et al, 2022;Ihsan & Ibrahim, 2011).…”

“…The problems arise from unprofessional management (Ali et al, 2018;Ihsan & Ibrahim, 2011;Ismail et al, 2015) and lack of transparency, including bribery (Karim, 2010;Zulkhibri, 2017). From a technicaladministrative perspective, challenges arise from an inadequate administration system, including a traditional approach with limited utilization of information technology (Ali et al, 2018;Fauzi et al, 2022;Ihsan & Ibrahim, 2011). This poor administration leads to numerous unregistered waqf lands and potential conflicts over land ownership, eroding trust and resulting in a decline in the number of waqf lands.…”

“…Zulkhibri (2017) mentioned that the general problems related to waqf land development are lack of financial resources, undeveloped and unproductive waqf land, loopholes in the legal framework, and unregistered waqf land, waqf on leasehold land, and land classified as heritage. In other specific cases, the problems related to waqf around the Islamic countries such as the regulation problems in Bangladesh and Indonesia (Karim, 2010;Syarief, 2021), the managerial problem in Bangladesh (Hasan & Siraj, 2016), the human resources problems in Malaysia (Ali et al, 2018), the societyrelated problems in Jordan (Almanaseer & Bashar, 2014), the financial problems in Indonesia and Nigeria (Nasution & Medias, 2020;Zauro et al, 2020).…”