Waqf property utilisation and governance practices of institutional Mutawalli framework in Malaysia

• Main Author: Hasyeilla, Abd Mutalib
• Format: Thesis
• Language: English
• Published: 2021
• Subjects: HG Finance
• Online Access: https://etd.uum.edu.my/10565/1/s95499_01.pdf; https://etd.uum.edu.my/10565/

Institutional mutawalli is an institution that is responsible to administer and manage waqf property. The success of the administration and management of institutional mutawalli towards the sustainability and continuity of the institution results from its professional and efficient governance. Good and proper governance promotes the optimum use of each entrusted waqf property and thus, provides comprehensive benefits to others. Previous studies found most institutional mutawalli face challenges in their governance practices, resulting in the waqf property not being fully utilised to achieve its full impact on the beneficiaries. Thus, this study is motivated to provide a platform for institutional mutawalli to optimally utilise their waqf property with proper and good governance practices, taking into consideration the uniqueness of each institutional mutawalli. This research applies the case study approach with multiple units of analysis where institutional mutawalli is used as a strategy of inquiry. Data were collected using formal, semi-structured, and in-depth interviews as well as document reviews. The interviews were conducted with the top management of institutional mutawalli, the board of directors, operational management, and mauqufalaih. The data were analysed using content analysis with inductive and deductive approaches. The significant output from this study is the proposed optimum utilisation of waqf property and governance practices framework of institutional mutawalli, which are an assembly of five components, namely, i) inputs, ii) process (divided into two which are development and utilisation), iii) output, iv) governance and v) roles and responsibilities. Through this framework, it is able to accommodate different types of institutional mutawalli to create a more proactive waqf governance and management. Moreover, the development of this framework could identify the crucial governance component to transform waqf property to be more productive, sustainable and competitive. This would ensure the existence and growth of institutional mutawalli to meet local and global changes, especially with the recent industrial revolution 4.0.