Development of Wakf Fund in Public Higher Education Institutions
DOI:
https://doi.org/10.21834/e-bpj.v8iSI14.5062Keywords:
Waqf, Fund Development, Waqf Institutions, Islamic Wealth ManagementAbstract
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.
References
Aimi Fadzirul Kamarubahrin, Abdullah Mohammed Ahmed Ayedh & Khairil Faizal Khairi (2019) ‘Accountability Practices of Waqf Institution in Selected States in Malaysia: A Critical Analysis’, International Journal Of Economics, Management And Accounting 27(2), pp. 331-352.
Fathullah Asni, Mohd Amirul Mahamud & Jasni Sulong (2020) ‘Socio-Economics and Management of Muslim Cemetery Waqf Using Istibdal and GIS Method In Penang State’, Journal of Islamic Accounting and Business Research, Vol. 11 No. 7, pp. 1343-1362. DOI: https://doi.org/10.1108/JIABR-01-2019-0026
Ghafoorzai Shaiq Ahmad, Mohammad Bilal Khan, Ibadurrehman Patel, Damkar Mohammed Shehbaz & Ashurov Sharofiddin (2021) ‘Developing The Hybrid Model (Waqf & Zakat) For Improving The Zakat Recipients Healthcare In Selangor’, Journal of Islamic Finance Vol 10, pp. 67-75.
Hanim Misbah, Fuadah Johari, Fauzias Mat Nor, Hasnah Haron, Syahidawati Shahwan & Zurina Shafii (2022) ‘Sustainable Development, Regional Planning, and Information Management as an Evolving Theme in Waqf Research: A Bibliometric Analysis’, Sustainability. 14(21):14126. DOI: https://doi.org/10.3390/su142114126
Muhamad Husni Hasbulah, Noorkartina Mohamad, Noor Saidatul Natrah Saaidun & Mohd Faizuddin Muhammad Zuki (2022) ‘Potential of Waqf Instrument During Covid-19: A Literature Review on Majlis Agama Islam & Adat Istiadat Melayu Perlis (MAIPs)’, International Journal of Academic Research in Business and Social Sciences, 12(4), 1120–1134. DOI: https://doi.org/10.6007/IJARBSS/v12-i4/12918
Muhammad Ainul Hakim Muhammad Khalil, Muhamad Firdaus Ab Rahman, Hussein Azeemi Abdullah Thaidi & Azman Ab. Rahman (2020) ‘Advantages of Temporary Waqf in Combating COVID-19 Pandemic in Malaysia’, INSLA E-Proceedings pp. 167-180.
Muhammad Iqmal Hisham Kamaruddin, Mustafa Mohd Hanefah & Rosnia Masruki (2022), ‘Challenges and prospects in waqf reporting practices in Malaysia’, Journal of Financial Reporting and accounting. DOI: https://doi.org/10.1108/JFRA-01-2022-0018
Muhammad Ubaidillah, Mohd Adib Ismail & Mohd Ali Mohd Noor (2020) ‘The Waqf Integrated Financial Instrument of Pension Model in Malaysian Social Security: A Conceptual Proposition’, The Journal of Muamalat and Islamic Finance Research Vol. 17, No. 1, June 2020, Pp. 33-55. DOI: https://doi.org/10.33102/jmifr.v17i1.259
Nawawi Thabrani (2010) ‘Waqf According Al-Sarakhsi in Kitab Al-Mabsuth and Corelation with Waqf in Indonesia’, Jurnal Falafisa 1(1), pp.47-57.
Noor Hidayah Zainudin, Nazihah Wan Azman & Nor Razuana Amram (2022) ‘Progress and Achievements of the Implementation of Waqf for Higher Education in Malaysia’, Al Qimah Al Mudhafah The Journal of Management and Science (ALQIMAH).
Nur Afiqah Anuaa, Nor Nadirah Akmar Mokhtar, Muhammad Azwan Sulaiman, Muhammad Nazim Alias & Nurul Nadiah Zainol (2022) ‘Development of Waqf Land in Malaysia: A Current Review In State Of Pulau Pinang’, Journal of Islamic, Social, Economics and Development (JISED), Vol 7(46), pp. 285-292.
Nurul Adilah Hasbullah & Asmak Ab Rahman (2021) ‘Endowment and Waqf Funds in Malaysian Higher Education: A Conceptual Study’, Shariah Journal Vol 29, pp. 127-154. DOI: https://doi.org/10.22452/js.vol29no1.6
Ridwan & Muhammad Fuad Zain (2020) ‘The Legal Policies on Land Management in The Early Period of Islam’, Journal of Archeology of Egypt 17(9) ISSN 1567, pp. 5625-5639.
Sarah Wood (2022) 10 National Universities With the Biggest Endowments https://www.usnews.com/education/best-colleges/the-short-list-college/articles/10-universities-with-the-biggest-endowments.
Zaenal, M.H., Ismail, A.G., Shafiai, M.H.M. (2022) ‘Philanthropy from Islamic Tradition’, Palgrave Studies in Islamic Banking, Finance, and Economics, Palgrave Macmillan, Cham. DOI: https://doi.org/10.1007/978-3-031-06890-4_2
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Nur Razan Izzati Mohd Roslan, Nasrul Hisyam Nor Muhamad, Ahmad Che Yaacob
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
