Primary Drivers of Sustainable Performance: The Case of Corporate Waqf
Despite Waqf institutions being perceived as the social mechanism to facilitate equitable economic growth and progress for the ummah, getting its concept accepted and implemented by business organizations remains a challenge. A significant number of waqf institutions are also faced with recurr...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | Arabic |
| Published: |
Universiti Sultan Azlan Shah
2018-01-01
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| Series: | Global Journal Al-Thaqafah |
| Subjects: | |
| Online Access: | http://www.gjat.my/gjat2018si/SI2018-14.pdf |
| Summary: | Despite Waqf institutions being perceived as
the social mechanism to facilitate equitable
economic growth and progress for the ummah,
getting its concept accepted and implemented
by business organizations remains a challenge.
A significant number of waqf institutions
are also faced with recurring issues such as
underdeveloped waqf properties, unproductive
nature of the assets, inability to generate
self-income, loose documenting system and
mismanagement. Therefore, this paper aims
to shed light on the drivers of the successful
practice of corporate waqf of a selected waqf
institution in Malaysia. Specifically, this paper
examines the critical factors that continuously
drive the performance of the corporate waqf
institution. The framework for the case study
was premised upon the tawhidic concept which
stemmed from the Quran and Sunnah. In the
case study, data were drawn from interviews
with key informants, participant observations
and reviews of documents. Data collected
from multiple sources of evidence enabled the
triangulation of data. The situation has enhanced
the validity and reliability of the findings.
NVivo software was used to code and analyze
the data as well as to search for patterns and
emerging themes. The results revealed that the
case company successfully engaged in waqf
practice as well as, sustain its performance. The
essential criteria in managing and administering
waqf funds at the case company can be linked to
the jihad attitude, healthy mindset, an in-depth
knowledge of Islamic and waqf fundamentals
and strategic leadership. The findings put forth
to advance the literature on corporate waqf
besides provide insights for policymakers
on the drivers for an effective and efficient
management of waqf funds and sustainable
corporate waqf performance. |
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| ISSN: | 2232-0474 2232-0482 |