Abdul Hamid Mar Iman and Mohammad Tahir Sabit Haji Mohammad
This paper aims to add to the existing body of literature on this subject by advocating how waqf-based entrepreneurship can be practiced in Malaysia.
Abstract
Purpose
This paper aims to add to the existing body of literature on this subject by advocating how waqf-based entrepreneurship can be practiced in Malaysia.
Design/methodology/approach
The paper begins by presenting an overview of waqf and its role in entrepreneurship and proceeds by proposing a model of waqf-based entrepreneurship which is synthesized from various models existing in the Islamic world.
Findings
The paper concludes by recommending waqf-based entrepreneurship as an alternative socio-economic framework of society’s wellbeing.
Research limitations/implications
The research is limited to the preliminary aspects of waqf entrepreneurship.
Practical implications
Waqf organization may be able to finance its own businesses through crowdfunding and other methods and also disburse waqf funds to small and large ventures.
Social implications
The waqf system is a social tool that not only finances social development projects but also has social economic alternatives to assist poor and underprivileged groups in the society. This paper is toward such a socio-economic direction.
Originality/value
This paper might be considered the first attempt to detail the practical aspect of waqf entrepreneurship, in terms of enterprises to be financed, and how the funds to be accumulated.
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Ibrahim Sipan, Abdul Hamid Mar Iman and Muhammad Najib Razali
The purpose of this study is to develop a spatio-temporal neighbourhood-level house price index (STNL-HPI) incorporating a geographic information system (GIS) functionality that…
Abstract
Purpose
The purpose of this study is to develop a spatio-temporal neighbourhood-level house price index (STNL-HPI) incorporating a geographic information system (GIS) functionality that can be used to improve the house price indexation system.
Design/methodology/approach
By using the Malaysian house price index (MHPI) and application of geographically weighted regression (GWR), GIS-based analysis of STNL-HPI through an application called LHPI Viewer v.1.0.0, the stand-alone GIS-statistical application for STNL-HPI was successfully developed in this study.
Findings
The overall results have shown that the modelling and GIS application were able to help users understand the visual variation of house prices across a particular neighbourhood.
Research limitations/implications
This research was only able to acquire data from the federal government over the period 1999 to 2006 because of budget limitations. Data purchase was extremely costly. Because of financial constraints, data with lower levels of accuracy have been obtained from other sources. As a consequence, a major portion of data was mismatched because of the absence of a common parcel identifier, which also affected the comparison of this system to other comparable systems.
Originality/value
Neighbourhood-level HPI is needed for a better understanding of the local housing market.
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Fathullah Asni, Afiffudin Mohammed Noor and Muhamad Husni Hasbulah
The purpose of this study is to examine the management of cash waqf fund generation through the implementation of istibdal in Kedah.
Abstract
Purpose
The purpose of this study is to examine the management of cash waqf fund generation through the implementation of istibdal in Kedah.
Design/methodology/approach
The data are obtained through literature and empirical data. The authors first review the literature on the importance of waqf fundraising, the implementation factors of istibdal waqf and the relevance of istibdal method as a waqf fund generation medium to understand the extent to which the scholarly articles have discussed these topics. Furthermore, the authors conducted face-to-face interviews with two Kedah Islamic Religious Council (Majlis Agama Islam Kedah [MAIK]) officers, who were directly involved in the affairs of istibdal waqf to obtain holistic information regarding implementing istibdal waqf properties in Kedah. As a result, several themes are defined from the interview data before being analysed based on the content analysis method.
Findings
The results of the study show two istibdal implementation processes outlined by the Kedah Islamic Religious Council (MAIK), namely, the istibdal implementation process for waqf land registered title deed, and waqf land registered as reserve certificate for religious use like mosque and cemetery. The results also showed three factors in implementing istibdal in Kedah: the acquisition of waqf land by the state authority (PBN), istibdal application by the state education department (JPN) and istibdal application by the mosque committee. Out of eight cases of istibdal implementation, four have generated cash funds for MAIK through investment methods from the sale of waqf lands and rental of replaced shophouses that are able to cover the expenses of managing waqf properties in Kedah. Several suggestions are also recommended for MAIK to improve its istibdal policy, thus enabling the institution to generate cash waqf funds at the maximum rate.
Research limitations/implications
This study only focused on the implementation factors and the generation of cash waqf funds through istibdal in Kedah, while it can be expanded to other states like Terengganu, Kelantan and Penang. Furthermore, this study only interviewed officers who manage matters related to the affairs of waqf properties, as the session can actually be extended to other respondents, such as those specialising in cash fund generation investments and others.
Practical implications
This study proposed some improvements to the policy and guidelines of istibdal waqf property to MAIK after a few shortcomings were identified throughout this study. If improved, these proposals will have a significant impact, especially on the waqf properties involved in the implementation of istibdal, where it has the potential to bring cash generation and ensure the constant economic value of waqf properties.
Social implications
This study has a tremendous impact on society, in which their areas have cash waqf funds that can be developed. It can benefit the needy and increase funds for the welfare expenditure of Muslims through rental income, investment and development. Progress on waqf property provides a high indication of the efficiency of an organisation in managing the waqf property. Thus, the public, especially the rich, is motivated to fulfil their charitable practices through waqf mechanism and share their wealth with the needy.
Originality/value
This study contributes to comprehensive field data on the implementation factors and generation of cash waqf funds through the implementation of istibdal in Kedah. The results of this study are significant to be used by waqf property management.
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Afiffudin Mohammed Noor, Fathullah Asni, Mohd Afandi Mat Rani and Muhamad Rozaimi Ramle
This paper aims to analyse the implementation of istibdal waqf property in several states of Peninsular Malaysia. To achieve this objective, this study identified the amount of…
Abstract
Purpose
This paper aims to analyse the implementation of istibdal waqf property in several states of Peninsular Malaysia. To achieve this objective, this study identified the amount of waqf property ‘am (general) and waqf property khas (special) which were involved in the process of istibdal in each state, the factors that have caused the istibdal to be implemented, the rate of istibdal involved for each lot of waqf lands and the type of property replacement performed.
Design/methodology/approach
This study used the qualitative method, whereby the researchers had collected secondary data consisting of documents related to waqf from the State Islamic Religious Council (MAIN). The type of documents obtained were public records. The data collected were analysed using the content analysis techniques.
Findings
The results showed that there are several factors involved in the implementation of istibdal, namely, the acquisition of waqf land by the State Authority, applications by external parties for a particular interest and the initiatives taken by the MAIN on waqf property which is problematic and uneconomical to generate waqf fund. This study also found some Shariah and management issues, which were identified in the implementations of istibdal, whereas some cases of istibdal were only carried out on a small part of the waqf lands and there were also cases of the implementation of istibdal which have not been replaced with fixed assets as authorised by the istibdal parameter. This study suggests some improvements to the issues identified in the implementation of istibdal for waqf managers in Malaysia.
Research limitations/implications
The limitation of this study is that it analyses only the documents that record the implementation of istibdal in the states managed by MAIN. Thus, the analysis performed was limited to the documents obtained without involving empirical data.
Practical implications
This study suggests some improvements to the implementation of istibdal waqf in the states studied. Therefore, these recommendations can be used by waqf property managers to improve the process of implementing waqf property istibdal so that it can be used to its maximum potential.
Social implications
If the recommendations in this study can be implemented, the Muslim community will benefit greatly from the waqf property because it is being developed through the method of istibdal. This impact can increase the confidence of the Muslim community towards MAIN in managing waqf property and encouraging the Muslim community to contribute to waqf property for the welfare of the ummah.
Originality/value
This study involved data on a larger waqf istibdal implementations that involved several states in Peninsular Malaysia, which to the best of the authors’ knowledge, the analysis involving such large research data have not been implemented before.
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Nori Yani Abu Talib, Radziah Abdul Latiff and Aini Aman
This paper aims to improve the understanding of the institutional pressures that shape the intention to adopt waqf accounting and reporting. The study seeks to answer two research…
Abstract
Purpose
This paper aims to improve the understanding of the institutional pressures that shape the intention to adopt waqf accounting and reporting. The study seeks to answer two research questions as follows: what are the challenges in the adoption of waqf accounting and reporting in waqf institutions; and how do institutional pressures influence the adoption of waqf reporting in Malaysia. Drawing on the work of DiMaggio and Powell and Scott of institutional theory, this paper provides empirical evidence of institutional pressures on the adoption of waqf reporting in Malaysia and the challenges faced in adopting waqf accounting and reporting.
Design/methodology/approach
This study uses qualitative research method with an explanatory case study approach. Data are collected through semi-structured interviews with the accountants of State Islamic Religious Council and Customs of Terengganu, an informal conversation with the Deputy Director of Accountant Generals Department of Malaysia and document reviews, mainly the Malaysian Accounting Standard Board Research paper.
Findings
The findings show that coercive pressure such as government regulation contributes to challenges in the adoption of waqf accounting and reporting. Normative pressures contribute to challenges in formulating standardised waqf accounting and reporting, whereas mimetic pressure contributes to challenges in the comparability of the waqf accounting and reporting among the state Islamic religious councils in Malaysia. In the efforts towards the standardisation of waqf accounting and reporting practice, a similarity of the process of the standard implementation or the institutional isomorphism of the State Islamic Religious Council in Terengganu is strongly influenced from the result of the mandate of its Board members and Fatwa council members (coercive isomorphism and religion logic) and minor influence from the normative isomorphism (the result of the participants’ education and profession) as well as the result of imitating other State of Islamic Religious Councils (SIRCs) because of the ambiguity of the process or certain practice.
Research limitations/implications
The study contributes to the knowledge by extending institutional theory and the possible role of religion logic in Islamic perspective to organisational behaviour and accounting development in SIRCs. This study is limited to the understanding of the challenges in the adoption of waqf accounting and reporting but could also be applicable to the adoption of other accounting standards or regulations.
Practical implications
This paper offers key implications for research, in improving the understanding of contextual factors and decision to adopt waqf accounting and reporting. The standard setter needs to be aware of the influence of contextual factors that shape decision towards standardisation of accounting and reporting for waqf.
Originality/value
The interplay of institutional pressures and implications of religion logic provides an interesting approach to understanding the waqf institutions’ intention to adopt accounting and reporting for waqf.
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The purpose of this study is to develop a conceptual model explicating Muslims intention towards charitable giving of cash waqf. Drawing from altruism theoretical paradigm, the…
Abstract
Purpose
The purpose of this study is to develop a conceptual model explicating Muslims intention towards charitable giving of cash waqf. Drawing from altruism theoretical paradigm, the present study investigates the role of perceived ihsan, Islamic egalitarian and Islamic religiosity on cash waqf contribution.
Design/methodology/approach
The survey method using Islamic banking respondents were exploited for data collection. A total sample of 264 completed questionnaires were analysed.
Findings
The results of exploratory factor analysis indicate strong constructs nomological validity. The structural equation modelling using path analysis was also performed to estimate the proposed research framework. The result of model testing shows significant relationship between perceived ihsan, Islamic egalitarian and Islamic religiosity on cash waqf contribution.
Practical implications
The results suggest that perception of ihsan and notion of equality significantly influences Muslims’ sense of religiosity, which subsequently encourages the generosity giving behaviour of waqf. Implications of the findings and suggestions for future research are also discussed.
Originality/value
The study introduces two new dimensions of perceived ihsan and Islamic egalitarian. Specifically, the present study offers fresh new insights of charitable giving of cash waqf behaviours from Islamic perspective.
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Roni Andespa, Yulia Hendri Yeni, Yudi Fernando and Dessy Kurnia Sari
This study aims to investigate what past scholars have learned about Muslim consumer compliance behaviour in Islamic banks and identify what future research is needed. In…
Abstract
Purpose
This study aims to investigate what past scholars have learned about Muslim consumer compliance behaviour in Islamic banks and identify what future research is needed. In addition, it also explores the relationship model between the previously studied determining factors and the customer’s Sharia compliance behaviour.
Design/methodology/approach
This study used a bibliometric–systematic literature review analysis using the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) technique by reviewing the articles published from 2013 to 2023. The PRISMA procedures involved several stages, including identification, screening, eligibility, analysis and conclusion based on the findings.
Findings
The results found that customer Sharia compliance behaviour determinants in Islamic banks are attitude, subjective norms, perceived behavioural control, Islamic financial literacy, religiosity, consumer conformity, Islamic branding and behavioural intention. Interestingly, the results indicated that such factors as consumer conformity, Islamic branding and sustainable intentions are less discussed.
Practical implications
Decision-makers in Islamic banks must use digital technology to offer better service and make operations more reachable for customers to access information, complete transactions and manage their accounts by Sharia principles. Therefore, the bank needs to continually produce innovative products and services so that customers have a greater variety of options to suit their Sharia-compliant financial needs. Theoretically, this study has contributed by finding the main critical domains influencing customers’ Sharia compliance behaviour, such as attitudes, subjective norms, perceptions of behavioural control, knowledge of Islamic finance, religiosity, consumer conformity, Islamic branding and behavioural intentions. Then, it makes a theoretical contribution by establishing a model that explains how customers make decisions based on Sharia-related factors in the context of their purchases.
Originality/value
Past studies focused on the Sharia compliance behaviour in paying Zakat for takaful customers. Therefore, this study provides critical factors of Sharia compliance behaviour on conformity, Islamic branding and sustainable intention regarding unexplored consensus on the determinants and outcomes of customer Sharia compliance behaviour of Islamic banking.