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Factors that determine parents’ awareness on the use of cash waqf for educational assistance in Malaysia

Abdul Razak, Dzuljastri and Mohamed Sofian, Nurul Hashimah and Mazlan, Nurul Huda (2017) Factors that determine parents’ awareness on the use of cash waqf for educational assistance in Malaysia. In: 4th International Islamic Economics and Finance Congress 2017 (IEFC), 15th-16th July 2017, Istanbul, Turkey. (Unpublished)

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Abstract

Waqf is a charitable institution that has long been practiced from the time. Prophet Muhammad(pbuh). In Malaysia, waqf has been used for several purposes like building of mosque, cemeteries and poverty alleviation. The use of cash waqf is gaining prominence due to its flexibility. However, the availability of cash waqf as a means for educational assistance is still newbut has been increasing important. This is because of the scarcity of government scholarships due for financial constraints. Another option is study financing from banks and PTPTN which incurred financial charges. The paper aims preliminarily to investigate factors that determine parents’ awareness on the use of cash waqf for cash assistance based on five variables namely religious satisfaction, background of parents, efficient management, promotion and surrounding community. In order to realise this, a self-administered questionnaire involving a sample of 152 respondents were distributed in the state of Selangor, Malaysia. Primary data was mainly employed and analysed using descriptive analysis of the demographic profile, explanatory factor analysis (EFA), reliability coefficient with Cronbach’s alpha measurement. The results revealed the good-of -fit indices are adequate using the fit indices criteria. Hence, it can be concluded that the five variables mentioned above are indeed factors that determine parents’ awareness on the use cash waqf for educational assistance. The finding of this study would be beneficial for academicians, parents and waqf organizations by shedding lights on the need to strengthen the management of cash waqf administration and increase its awareness as a viable alternative to scholarships and study financing. Keywords: Cash Waqf, Education Assistance, Higher Education, Selangor, Malaysia

Item Type: Conference or Workshop Item (Invited Papers)
Additional Information: 4433/58184
Uncontrolled Keywords: Cash Waqf, Education Assistance, Higher Education, Selangor, Malaysia
Subjects: H Social Sciences > HG Finance
H Social Sciences > HG Finance > HG178 Liquidity
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User: Dr Dzuljastri Abdul Razak
Date Deposited: 05 Sep 2017 10:23
Last Modified: 05 Sep 2017 10:23
URI: http://irep.iium.edu.my/id/eprint/58184

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