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WAQF FUNDRAISING MANAGEMENT: A PROPOSAL FOR A SUSTAINABLE FINANCE OF THE WAQF INSTITUTIONS

Journal of Islamic Monetary Economics and Finance

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Title WAQF FUNDRAISING MANAGEMENT: A PROPOSAL FOR A SUSTAINABLE FINANCE OF THE WAQF INSTITUTIONS
 
Creator Shulthoni, Muhammad
Saad, Norma Md
Kayadibi, Saim
Ariffin, Muhammad Irwan
 
Description 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.
 
Publisher Bank Indonesia
 
Date 2018-05-31
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://jimf-bi.org/index.php/JIMF/article/view/776
10.21098/jimf.v3i0.776
 
Source Journal of Islamic Monetary Economics and Finance; Vol 3 (2018): SPECIAL ISSUE; 153 - 178
2460-6618
2460-6146
 
Language eng
 
Relation http://jimf-bi.org/index.php/JIMF/article/view/776/715
 
Rights Copyright (c) 2018 Muhammad Shulthoni, Norma Md Saad, Saim Kayadibi, Muhammad Irwan Ariffin