The Management of Cash Waqf: Toward Socio-Economic Development of Muslims in Malaysia

Soliha Sanusi, Muhammad Hakimi Mohd Shafiai

Abstract


ABSTRACT

The purpose of this study is to examine the applicability of cash waqf among the Muslim society. It seeks the evidence of how waqf improves the socio-economic condition of Muslims in Malaysia. Two established waqf institutions in Malaysia had been selected, namely Waqaf Annur Corporation Berhad and Perbadanan Wakaf Selangor as representatives of private and public sectors, respectively. Data was collected through interviews, data archives and document reviews. Both institutions show significant evidence of waqf contribution to religious, economic and social activities. Perbadanan Wakaf Selangor focuses on benefits to the public such as mosque management and school development, while Waqaf Annur Corporation Berhad provides funds for public utilities as well as for individuals. This paper contributes to the literature of cash waqf and also informs stakeholder that waqf is the alternative method toward societal development. Comparative studies on cash waqf between countries or between Muslim and non-Muslim endowments are encouraged for future research.

Keywords: Management; applicability; cash waqf; Muslim society; socio-economy development, business financing.

ABSTRAK

Kajian ini bertujuan untuk mengkaji aplikasi dan implikasi wakaf tunai di kalangan Muslim di Malaysia. Kajian ini bertujuan untuk membuktikan bahawa wakaf boleh meningkatkan tahap sosio-ekonomi umat Islam. Dua institusi wakaf dipilih iaitu Wakaf Annur Corporation Berhad mewakili institusi swasta dan Perbadanan Wakaf Selangor mewakili institusi awam. Data dikumpulkan melalui kaedah temubual, kajian data dari arkib dan analisis dokumen. Kedua-dua institusi memperlihatkan bukti dalam sumbangan mereka kepada masyarakat melalui aktiviti keagamaan, ekonomi dan sosial. Perbadanan Wakaf Selangor lebih menumpukan kepentingan manfaat kepada awam seperti pengurusan masjid dan pendidikan manakala Waqaf Annur Corporation Berhad menyediakan dana untuk kemudahan awam dan juga untuk individu seperti pinjaman Qardul Hassan untuk perniagaan serta tuisyen kepada pelajar. Kajian ini menyumbang kepada pengetahuan mengenai wakaf tunai dan juga memberi maklumat kepada pihak berkepentingan untuk melihat wakaf sebagai satu alternatif pembangunan kepada masyarakat. Perbandingan wakaf antara negara atau wakaf Muslim dan bukan Muslim adalah digalakkan untuk kajian akan datang.

Kata kunci: Pengurusan, pelaksanaan; wakaf tunai; masyarakat Islam:, pembangunan sosio-ekonomi; pembiayaan perniagaan.


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