Proceedings of the 1st International Conference on Applied Social Sciences, Business, and Humanity, ICo-ASCNITY, 2 November 2019, Padang, West Sumatra, Indonesia

Research Article

Strategies and Tools for Effective Awqaf Asset Management

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  • @INPROCEEDINGS{10.4108/eai.1-11-2019.2294009,
        author={Hidayatul  Ihsan and Eliyanora  Eliyanora and Nurul  Fauzi and Gustina  Gustina and Abdelgani  Echchabi},
        title={Strategies and Tools for Effective Awqaf Asset Management},
        proceedings={Proceedings of the 1st International Conference on Applied Social Sciences, Business, and Humanity, ICo-ASCNITY, 2 November 2019, Padang, West Sumatra, Indonesia},
        publisher={EAI},
        proceedings_a={ICO-ASCNITY},
        year={2020},
        month={4},
        keywords={waqf regulation governance financing accountability risk management education},
        doi={10.4108/eai.1-11-2019.2294009}
    }
    
  • Hidayatul Ihsan
    Eliyanora Eliyanora
    Nurul Fauzi
    Gustina Gustina
    Abdelgani Echchabi
    Year: 2020
    Strategies and Tools for Effective Awqaf Asset Management
    ICO-ASCNITY
    EAI
    DOI: 10.4108/eai.1-11-2019.2294009
Hidayatul Ihsan1,*, Eliyanora Eliyanora1, Nurul Fauzi1, Gustina Gustina2, Abdelgani Echchabi3
  • 1: Accounting Department, Padang State Polytechnic, Indonesia
  • 2: Business Administration Department, Padang State Polytechnic, Indonesia
  • 3: Higher Colleges of Technology Dubai, United Arab Emirate
*Contact email: hidayatul@pnp.ac.id

Abstract

Waqf is known to have played significant role over the years as an effective tool of poverty eradication through the provision of essential facilities and public goods for Muslim society. Unfortunately, in recent years, the vast potential of waqf has not been utilised optimally. The lack of required attention has subjected many waqf assets to abuse and neglect. Poor management and ineffective regulation among others issues greatly undermine the potential of waqf in many Muslims communities nowadays. The focus of this paper is to explore the strategies and tools to manage waqf assets effectively. In doing so, series of focus group discussions and interviews were conducted with mutawalli, waqf regulator and academicians. The findings of the study indicate that the role of effective regulation, improved waqf governance, appropriating financing instruments and continuous education is equally important as strategies in developing waqf assets. In addition, this study suggests some important mechanisms particularly accountability and risk management that are necessary for developing the right strategy for waqf administration.