| By: |
Syed Ahmed Salman (Lincoln University, Petaling Jaya, 47301, Malaysia Author-2-Name: Rusni Hassan Author-2-Workplace-Name: IIUM Institute of Islamic Banking and Finance, Gombak, 53100, Malaysia Author-3-Name: Nur Atiqah Maulad Murat Author-3-Workplace-Name: IIUM Institute of Islamic Banking and Finance, Gombak, 53100, Malaysia Author-4-Name: Adnan Yusoff Author-4-Workplace-Name: Universiti Tenaga Nasional, Kajang, Selangor, 43000, Malaysia Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: |
" Objective - Since Islam, Waqf, known as the Islamic endowment, has played a
significant role in reforming and developing the economy. Like zakat
(compulsory charity) and sadaqah (optional charity), Waqf has also been
considered an essential means of poverty alleviation and upliftment. In
Malaysia, each state's jurisdiction, called the State Islamic Religious
Council (SIRCs), supervises waqf properties' governance. However, recently, it
has been reported that the SIRC responsible for managing waqf properties has
been unable to manage and operate effectively. To devise a well-designed
strategy that can strengthen governance within the waqf institutions.
Moreover, restoring Waqf as a mechanism for socio-economic development may be
necessary for waqf institutions to develop their formal governance framework.
Therefore, this paper aims to conduct a qualitative study of current Shariah
governance practices in Waqf institutions at Majlis Agama Islam Melaka (MAIM).
Methodology – The qualitative research method was used for this
investigation. The interviewees are chosen using a selection process that is a
hybrid of convenience sampling and purposeful sampling. Both content and
descriptive analysis were utilized in analyzing the outcomes of the
interviews. To obtain information on waqf governance in MAIM, an interview was
conducted with various officers from the organization. A total of six experts
in the field of Waqf from MAIM participated in this study and were interviewed
for this research. Findings – The current practices of Shari'ah Governance
in Waqf Institution in Majlis Agama Islam Melaka (MAIM) have been examined
through interviews and brochures from interviewees. Several gaps were found in
the organization's structure; Board of Directors, Shariah Committee, Shariah
Audit, Shariah Review, and Shariah Risk Management. Based on findings
extracted from the analysis, researchers provide several recommendations.
Novelty – This study is unique because there was no study conducted on the
current practices of Shari'ah Governance in Waqf Institution in Majlis Agama
Islam Melaka (MAIM). The officers and board of directors will benefit
significantly from this research in both an educational and a guiding
capacity. Type of Paper - Empirical" |