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Waqf fundraising management: a proposal for a sustainable finance of the Waqf institutions

Shulthoni, Muhammad and Md Saad, Norma and Kayadibi, Saim and Ariffin, Muhammad Irwan (2018) Waqf fundraising management: a proposal for a sustainable finance of the Waqf institutions. Journal of Islamic Monetary Economics and Finance, 3 (Special Issue). pp. 153-178. ISSN 2460-6146 E-ISSN 2460-6618

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This paper studies the theoretical structure of financing for Islamic philanthropy in the form of waqf or endowment by looking at the past and present forms of waqf. Waqf is expected to play a more important role to tackle current social and educational issues, where financial sustainability has become one of the greatest challenges faced by waqf institutions. Using the content and thematic analysis approaches, this paper reviews the practice of successful waqf institutions and summarizes the features that are significant to a successful waqf fundraising and management. The paper analyses three models that are suitable for innovation and management of waqf fundraising: Venture Philanthropy of Waqf Model (VPWM), Value-Based Capital Model of Waqf (VBCM), and Social Enterprise Waqf Fund Model (SEWF). The paper then investigates the possibility of applying the Management by Objectives (MBO) framework to improve the overall management of waqf institutions. The discussions are hoped to be able to contribute towards developing a better fundraising and management of waqf institutions.

Item Type: Article (Journal)
Additional Information: 1304/64570
Uncontrolled Keywords: waqaf fundraisings, management, financing models, waqaf institutions
Subjects: H Social Sciences > HB Economic Theory > HB126.4 Islamic Economics
H Social Sciences > HJ Public Finance > HJ1438 Public Finance In Islam
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences
Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Muhammad Irwan Ariffin
Date Deposited: 22 Jul 2018 12:11
Last Modified: 29 Sep 2023 16:55
URI: http://irep.iium.edu.my/id/eprint/64570

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