Open AccessCorporate waqf: Discovering the primary challenges
Author(s) -
Haslinda Yusoff,
Muhammad Iqmal Hisham Kamaruddin,
Nurul Aini Muhamed,
Faizah Darus
Publication year - 2021
Publication title -
the journal of muamalat and islamic finance research
Language(s) - English
Resource type - Journals
eISSN - 0126-5954
pISSN - 1823-075X
DOI - 10.33102/jmifr.v18i2.373
Subject(s) - waqf , mindset , business , islam , constraint (computer aided design) , key (lock) , public relations , corporate governance , accounting , knowledge management , political science , engineering , computer science , finance , mechanical engineering , philosophy , theology , computer security , artificial intelligence
This study aims to explore and understand the key challenges of corporate waqf management and its implementation, particularly in Malaysia. This study adopted a qualitative approach. Specifically, data obtained from three interviews that involved an academician, a Shariah scholar and a business practitioner have been examined thoroughly. Generally, this study discovers three primary challenges pertaining to corporate waqf and its possible implementation. Legal constraint based on current regulatory settings of waqf management, narrow mindset of key stakeholders and lack of awareness and understanding amongst the general public are the core reasons that impede the successful acceptance and implementation of corporate waqf. This study is expected to contribute to the improvement of the waqf management. It provides an initial understanding about the primary issues that would be confronted when implementing corporate waqf. Thus, it puts forward several insights about the future strategies for positioning corporate waqf into practice.