Waqf Creation and Waqf Assets Value Enhancement: An Exploratory Study in some Organizations in Malaysia

Syed Mohamed Nor, Syed Johan Arif (2013) Waqf Creation and Waqf Assets Value Enhancement: An Exploratory Study in some Organizations in Malaysia. [Dissertation (University of Nottingham only)]

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Traditionally the role of uplifting economic and social wellbeing of the poor

has always been that of the public sector in most countries. This changed

towards the end of 20th century with the emergence of Corporate Social

Responsibility (CSR) where the private sectors had also joined force to

assume similar role. While CSR is a western concept that has been globally

recognized today, within the Muslim society there exists similar philanthropic

practice which has been around for more than 1000 years called waqf. Waqf

originated from an Arabic word of ‘waqafa’ and is defined as “detaining

assets that are beneficial and physically lasting, to be given to charity”. In

Malaysia, there is an estimated 11,000 hectares of idle waqf land in Malaysia

and the cost for development is estimated to be around RM80 billion. Source

of funds is a major issue where currently the government is the main source.

Further, studies showed that waqf development in Malaysia was hampered by

colonialism, poor management, legal issues, and restricted view of waqf itself.

This project management thesis will study 10 organizations in Malaysia

comprise of public, private and non-profit organization. The study objectives

will focus on organization’s motivation, waqf creation and waqf assets value

enhancement initiative, and critical success factors. The research methodology

will be based on exploratory qualitative non-empirical research with semistructured

interview questions. The findings show that for the last decade,

there have been an encouraging progress and development with participation

from public, private, and non-profit organizations. The selected organization

has either managed to create waqf assets and/or further enhance the value of

the newly acquired waqf assets or idle waqf land. They have not only

contributed toward the improvement of social wellbeing of the Muslim

community, but also created economic activities that benefit them and the

society. The study also found strong financial support and collaboration are

the common critical success factors shared by most organizations understudy,

and lack of funding, public awareness, poor waqf framework and lack of

expertise as major obstacles and limitations faced by them.

Item Type: Dissertation (University of Nottingham only)
Depositing User: UNM, ePrints
Date Deposited: 26 Dec 2014 08:05
Last Modified: 19 Oct 2017 14:10
URI: https://eprints.nottingham.ac.uk/id/eprint/27988

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