The possibility of using waqf to finance the Malaysian federal government’s public expenditure

Azrai Azaimi Ambrose, Azniza Hartini and Aslam, Mohamed and Hanafi, Hanira (2018) The possibility of using waqf to finance the Malaysian federal government’s public expenditure. Journal of Southeast Asian Studies, 23 (2). pp. 89-106. ISSN 1823-4127 E-ISSN 2600-8653

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Abstract

The purpose of this paper is to examine the possibility of using waqf to finance the federal government’s public expenditures in Malaysia. The arguments were based on the primary data gathered from semi-structured interviews with waqf experts. The result shows that waqf can finance the Malaysian federal government’s public expenditure for three reasons; Shari’ah permissibility,there is evidence of implementation in past Muslim economies and political will from the federal government. This study is motivated by Malaysia’s persistent primary deficit, Malaysia’s rising debt to GDP, and the versatile nature of waqf that could address these problems. Due to the exploratory nature of this study, qualitative research was conducted through the employment of semi-structured interviews. The thematic analysis was then performed on the interview transcripts. Literary evidence was also mentioned to ensure the concurrent validity of the mentioned results. The findings of this paper may add to the existing literature on the solutions to the burgeoning government expenditure and debt. Even more so, this article motivates researchers to explore the arising issues stemming from this particular waqf implementation.

Item Type:	Article (Journal)
Additional Information:	8710/69118
Uncontrolled Keywords:	waqf, finance, third sector, public goods, public expenditure
Subjects:	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
Depositing User:	Dr. Azniza Hartini Azrai Azaimi Ambrose
Date Deposited:	10 Jan 2019 12:05
Last Modified:	10 Jan 2019 12:05
URI:	http://irep.iium.edu.my/id/eprint/69118

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