Zakariyah, Habeebullah and Arafa, Wael Ezzeldeen Mohamed Hassan
(2024)
استخدام عقود البناء والتشغيل ونقل الملكية في المؤسّسات الخيرية الكويتية لإدارة أصول الوقف: التحديات والحلول
= Using Build-Operate-Transfer (B.O.T.) contracts in Kuwaiti charitable institutions to manage endowment assets (challenges and solutions).
Al-Qanatir: International Journal of Islamic Studies., Vol. 33. (No. 6.).
Abstract
The issue of managing Waqfassets in Kuwaiti charitable institutions is considered one of the issues that is receiving increasing attention from researchers. Accordingly, many Kuwaiti charitable institutions have turned to searching for new methods of investment, especially investment in the form of Build-Operate-Transfer (B.O.T.) contracts. The current study aims to study the challenges that may face the application of Build-Operate-Transfer contracts to invest Waqfassets managed by Kuwaiti charitable institutions at all stages of the project (the project selection stage, the franchise company selection stage, the contract implementation stage, and the project receipt stage). This study followed a qualitative approach to answer the research questions, as data was collected throughsemi-structured interviews conducted with nine employees in seven Kuwaiti charitable organizations that manage Waqfassets. The results of the study show that there are challenges facing Kuwaiti charitable organizations in implementing Build-Operate-Transfer contracts in the project stages, which are, in order: the challenges of providing expertise to manage and implement Build-Operate-Transfer contracts, the challenges of choosing the franchise company from a technical and financial standpoint, providing oversight and operation capabilities, and managing the project after receipt. And the challenges of conflicts with the franchise company. The study recommended, during the project selection stage, the use of specialized bodies to choose the appropriate project and the assistance of members of the Investment Committee of the Board of Directors. In the stage of selecting the franchise company, the assistance of specialized parties is required to select the franchise company, in addition to the eligibility of the franchise company in terms of financial capabilities and technical expertise. In the implementation phase of the contract, specialized bodies will be appointed to supervise operation, and a department will be formed for investment in Kuwaiti charitable institutions. At the stage of receiving the project, prepare Kuwaiti charitable organizations to manage and operate investment projects and provide other options and alternatives in the event of inability to manage the project, such as extending the contract to the current concession company or contracting with new companies
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