Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system
The future direction of the public university is to self-sustained due to the inconsistency of the national economic growth. For example, reduced in the national income has forced the Malaysian government to cut the allocation of funds to various ministries’ in 2016 compared to 2015 budget. The cons...
Saved in:
Main Authors: | , , , , , |
---|---|
Format: | Article |
Language: | English English |
Published: |
2018
|
Subjects: | |
Online Access: | https://eprints.ums.edu.my/id/eprint/25103/1/Proposing%20Awqaf%20Alternative%20Plan%20%28AAP%29%20The%20way%20forward%20%26%20Sustainable%20higher%20education%20financial%20system.pdf https://eprints.ums.edu.my/id/eprint/25103/7/Proposing%20Awqaf%20Alternative%20Plan%20%28AAP%29%20The%20way%20forward%20%26%20Sustainable%20higher%20education%20financial%20system%201.pdf https://eprints.ums.edu.my/id/eprint/25103/ |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
id |
my.ums.eprints.25103 |
---|---|
record_format |
eprints |
spelling |
my.ums.eprints.251032021-04-13T14:04:05Z https://eprints.ums.edu.my/id/eprint/25103/ Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system Anwar Allah Pitchay Mohd Najwadi Yusoff Abdul Rahman Mohamed Asmy Mohd Thas Thaker Zubir Azhar Al Amin Mydin Mohamad I’sa Abd Jalil BP Islam. Bahaism. Theosophy, etc HB Economic theory. Demography The future direction of the public university is to self-sustained due to the inconsistency of the national economic growth. For example, reduced in the national income has forced the Malaysian government to cut the allocation of funds to various ministries’ in 2016 compared to 2015 budget. The consequences of this phenomenon the government has reduced the allocation of budget to Ministry of Higher Education, which is cut by RM2.4 billion, from RM15.78 billion in 2015 compared to RM13.37 billion in 2016. This scenario has imposed various challenges to many public universities’ management to manage university expenses and explore new avenue to generate income. There are various ways to generate income and we find most of the tertiary education in Malaysia is not able to practice effective management especially in managing the cost of organizing a program. For example, food and beverages (F&B) spend by the university during events are not effective and most of the time is wasted. This argument is developed based on the observation and also supported by an informal interview with a vice-chancellor (VC) of one of the public university in Malaysia. The VC do agree that the university management needs to find a solution to overcome the issue of wastage due to the forecasted cost rather than an accurate cost to organize a university’s events. Therefore, we believe that the main issue faced the university’s management is to identify an exact number of participants and etc. Thus, the current practice is based on the forecasted estimation rather than accurate estimation. Therefore, to solve this problem, the present study aims to provide an opportunity to the tertiary education in Malaysia which able to estimate an accurate cost and at the same time able to create waqf fund using effective fund management approach by proposing awqaf alternative plan (AAP) model. The proposed model is expected to generate Waqf fund and eliminate wastage management practice. 2018-07 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/25103/1/Proposing%20Awqaf%20Alternative%20Plan%20%28AAP%29%20The%20way%20forward%20%26%20Sustainable%20higher%20education%20financial%20system.pdf text en https://eprints.ums.edu.my/id/eprint/25103/7/Proposing%20Awqaf%20Alternative%20Plan%20%28AAP%29%20The%20way%20forward%20%26%20Sustainable%20higher%20education%20financial%20system%201.pdf Anwar Allah Pitchay and Mohd Najwadi Yusoff Abdul Rahman and Mohamed Asmy Mohd Thas Thaker and Zubir Azhar and Al Amin Mydin and Mohamad I’sa Abd Jalil (2018) Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system. International Journal of Islamic Economics and Finance, 1 (1). pp. 39-58. |
institution |
Universiti Malaysia Sabah |
building |
UMS Library |
collection |
Institutional Repository |
continent |
Asia |
country |
Malaysia |
content_provider |
Universiti Malaysia Sabah |
content_source |
UMS Institutional Repository |
url_provider |
http://eprints.ums.edu.my/ |
language |
English English |
topic |
BP Islam. Bahaism. Theosophy, etc HB Economic theory. Demography |
spellingShingle |
BP Islam. Bahaism. Theosophy, etc HB Economic theory. Demography Anwar Allah Pitchay Mohd Najwadi Yusoff Abdul Rahman Mohamed Asmy Mohd Thas Thaker Zubir Azhar Al Amin Mydin Mohamad I’sa Abd Jalil Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system |
description |
The future direction of the public university is to self-sustained due to the inconsistency of the national economic growth. For example, reduced in the national income has forced the Malaysian government to cut the allocation of funds to various ministries’ in 2016 compared to 2015 budget. The consequences of this phenomenon the government has reduced the allocation of budget to Ministry of Higher Education, which is cut by RM2.4 billion, from RM15.78 billion in 2015 compared to RM13.37 billion in 2016. This scenario has imposed various challenges to many public universities’ management to manage university expenses and explore new avenue to generate income. There are various ways to generate income and we find most of the tertiary education in Malaysia is not able to practice effective management especially in managing the cost of organizing a program. For example, food and beverages (F&B) spend by the university during events are not effective and most of the time is wasted. This argument is developed based on the observation and also supported by an informal interview with a vice-chancellor (VC) of one of the public university in Malaysia. The VC do agree that the university management needs to find a solution to overcome the issue of wastage due to the forecasted cost rather than an accurate cost to organize a university’s events. Therefore, we believe that the main issue faced the university’s management is to identify an exact number of participants and etc. Thus, the current practice is based on the forecasted estimation rather than accurate estimation. Therefore, to solve this problem, the present study aims to provide an opportunity to the tertiary education in Malaysia which able to estimate an accurate cost and at the same time able to create waqf fund using effective fund management approach by proposing awqaf alternative plan (AAP) model. The proposed model is expected to generate Waqf fund and eliminate wastage management practice. |
format |
Article |
author |
Anwar Allah Pitchay Mohd Najwadi Yusoff Abdul Rahman Mohamed Asmy Mohd Thas Thaker Zubir Azhar Al Amin Mydin Mohamad I’sa Abd Jalil |
author_facet |
Anwar Allah Pitchay Mohd Najwadi Yusoff Abdul Rahman Mohamed Asmy Mohd Thas Thaker Zubir Azhar Al Amin Mydin Mohamad I’sa Abd Jalil |
author_sort |
Anwar Allah Pitchay |
title |
Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system |
title_short |
Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system |
title_full |
Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system |
title_fullStr |
Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system |
title_full_unstemmed |
Proposing Awqaf Alternative Plan (AAP): The way forward & Sustainable higher education financial system |
title_sort |
proposing awqaf alternative plan (aap): the way forward & sustainable higher education financial system |
publishDate |
2018 |
url |
https://eprints.ums.edu.my/id/eprint/25103/1/Proposing%20Awqaf%20Alternative%20Plan%20%28AAP%29%20The%20way%20forward%20%26%20Sustainable%20higher%20education%20financial%20system.pdf https://eprints.ums.edu.my/id/eprint/25103/7/Proposing%20Awqaf%20Alternative%20Plan%20%28AAP%29%20The%20way%20forward%20%26%20Sustainable%20higher%20education%20financial%20system%201.pdf https://eprints.ums.edu.my/id/eprint/25103/ |
_version_ |
1760230324112982016 |
score |
13.160551 |