Email this article 1.jpg){kind=logo}
Contemporary Issues on Cash Waqf: A Thematic Literature Review
Abstract
This paper presents the most recent works on cash Waqf, focusing on identifying contemporary scholars' work in this area, providing a novel framework to indicate the existing gap, subsequently, it opens the door wider for new research commitment. This research adopts the paradigm of qualitative approach research, based on disk-based research. Google Scholar was employed, searching through the passage. Only contemporary English documents within the period of 2002-2019 were the subject of this study. Lately, cash Waqf has been proven as a proper method for poverty alleviation. Previous studies attempted to address several models in order to enhance socio-economics issues. This research is a distinct attempt, as to the best of our knowledge, there is no previous research addressed the subject matter. Moreover, this study is expected to assist the interested scholars by offering comprehensive conclusion about have been done in the field. Hence, opens new doors for scholars to develop new innovative cash Waqf models to bridge the socio-economic issues. Our findings depict that Malaysian and Indonesian scholars show a robust research commitment on cash Waqf during 2002-2019. Furthermore, this study highlights the existing gap that must be researched to enrich the potentials of cash Waqf, future research should address other countries practices in term of cash Waqf, moreover, validating a proposed model through interviews to ensure that a proposed model is applicable. In terms of cash Waqf awareness, research might consider peer influence”, “self-efficacy in contributing to cash Waqf.
Keywords
Full Text:
PDFReferences
Adeyemi, A.A., Ismail, N.A., & Hassan, S.S.B. (2016). An empirical investigation of the determinants of cash waqf awareness in Malaysia, Intellectual Discourse, 24.
Affandi, A., & Nufus, D.N. (2010). Analysis on cash waqf return fund allocation in Indonesia: A case study in Indonesian waqf deposit. Paper presented at the Seventh International Conference-The Tawhidi Epistemology: Zakat and Waqf Economy, 119-135.
Alam, M.M., Shahriar, S.M., Said, J., & Monzur-E-Elahi, M. (2018). Waqf as a tool for rendering social welfare services in the social entrepreneurship context. Global Journal Al-Thaqafah, 87-98.
Aliyu, S.U. (2019). Reflections on the Socioeconomic Role of Waqf in an Islamic Economic System, International Journal of Umranic Studies. 4(1), 31-43.
Al-Zuhaili, W. (2004). Al-waqf, Al-Fiqh al-Islami wa Adillatuh, 4th ed., Dar al-Fikr, Damascus, 130-153.
Amin, H., Abdul‐Rahman, A.R., Ramayah, T., Supinah, R., & Mohd‐Aris, M. (2014). Determinants of online waqf acceptance: An empirical investigation. The Electronic Journal of Information Systems in Developing Countries, 60(1), 1-18.
Amuda, Y.J., & Embi, N.A.C. (2013). Alleviation of poverty among OIC countries through sadaqat, cash waqf and public funding. International Journal of Trade, Economics and Finance, 4(6), 403-408.
Amuda, Y.J., Embi, A.C., & Babatunde, O.H. (2014). An agricultural Approach to the commercialization of cash waqf between Malaysia and Nigeria. Journal of Advanced Management Science, 2(4)1-14.
Aria, M., & Cuccurullo. C. (2017). Bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of informetrics, 11(4), 959-975.
Aziz, M.R.A., Johari, F., & Yusof, M.A. (2013). Cash waqf models for financing in education. Paper presented at the 5th Islamic Economic System Conference (IECONS 2013), 835-842.
Chowdhury, M.S.R., Ghazali, M.F., & Ibrahim, M.F. (2011). Economics of cash waqf management in Malaysia: a proposed cash waqf model for practitioners and future researchers. African Journal of Business Management, 5(30), 12155-12163.
Duasa, J., & Thaker, M.A.M.T. (2015, December 14-15). Proposed integrated cash waqf investment model for micro enterprises in Malaysia: an empirical analysis. Paper presented at the International Conference on Islamic Economics, Governance and Social Enterprise (IConIGS), Melaka.
Duasa, J., & Thaker, M.A.M.T. (2016). A cash waqf investment model: an alternative model for financing micro-enterprises in Malaysia. Journal of Islamic Monetary Economics and Finance, 1(2), 161-188.
Duasa, J., & Thaker, M.A.M.T. (2017). Proposed integrated cash waqf investment model for micro enterprises in Malaysia: an empirical analysis. Journal of Islamic Philanthropy and Social Finance, 1(2), 26-41.
Duasa, J., Thaker, M.A.M.T., Mohamed, M.O., Afroz, R., & Abidin, R.Z. (2014, August 20-21). Micro enterprises in Malaysia: an empirical assessment on financial obstacles. Paper Presented at the International Borneo Business Conference (IBBC), Kuching, Sarawak.
Hassan, C.S.N.A., & Rahman, A.A. (2018). The potential of cash waqf in the socio-economic development of society in Kelantan: a stakeholder’s perspective. New Developments in Islamic Economics, Emerald Publishing Limited, 67-82.
Haron, M., Kamarudin, M.K., Fauzi, N.A., Ariff, M.M., & Zainuddin, M. Z. (2016). Cash waqf collection: Any potential factors to influence it. International Journal of Business, Economics and Law, 9(2), 27-33.
Hosseini, S.M.S., Salari, T.E., & Abadi, S.M.N.Z. (2014). Study of cash waqf and its impact on poverty: case study of Iran. Atlantic Review of Economics, 5 (2), 1-19.
Ibn, Qudamah (1998), Al-Mughnī, D_ar al-Kit_ab al-ʿArabī, Beirut.
Ibrahim, H., Amir, A., & Masron, T.A. (2013). Cash waqf: An innovative instrument for economic development. International Review of Social Sciences and Humanities, 6(1), 1-7.
Johari, F., Alias, M.H., Aziz, A., Ridhwan, M., Kefeli, Z., Ahmad, N., & Ibrahim, P.H. (2015). Identifying the potential of continuity in cash waqf contribution: a descriptive analysis. The Journal of Muamalat and Islamic Finance Research, 20(4), 1-14.
Kachkar, O.A. (2017). towards the establishment of cash waqf microfinance fund for refugees. ISRA International Journal of Islamic Finance, 9(1), 81-86.
Kahf, M. (1999). Financing the development of awqaf property. The American Journal of Islamic Social Sciences, 16 (4), 39-66.
Kahf, M. (2003, January 6-7). The role of waqf in improving the ummah’s welfare. Paper presented at the International Seminar on Waqf as a Private Legal Body, Medan, Indonesia.
Karim, S A. (2007). Contemporary waqf administration and development in Singapore. Paper presented at the Singapore International Waqf Conference, Singapore, 2-10.
Khademolhoseini, M. (2008). Cash-waqf: a new financial instrument for financing issues: an analysis of structure and Islamic justification of its commercialization. Imam Sadiq University.
Lahsasna, A. (2010). The role of cash waqf in financing micro and medium sized enterprises (MMEs). Paper presented at the Seventh International Conference–The Tawhidi Epistemology: Zakat and Waqf Economy. 97-118.
Laldin, M.A. (2008). Fundamentals and Practices in Islamic Finance. Kuala Lumpur, Malaysia: International Shariah Research Academy for Islamic Finance (ISRA).
Mahamood, S.M. (2006), Waqf in Malaysia: legal and administrative perspective. Kuala Lumpur: Penerbit Universiti Malaya.
Masyita, D., Tasrif, M., & Telaga, A.S. (2005, July 17-21). A dynamic model for cash waqf management as one of the alternative instruments for the poverty alleviation in Indonesia. Paper presented at the 23rd International Conference of the System Dynamics Society, Massachusetts Institute of Technology (MIT), Cambridge, MA.
Mauluddin, M.I., & Rahman, A.A. (2018). Cash Waqf from the perspective of Majelis Ulama Indonesia (MUI) and the scholars of Aceh: an analysis. New Developments in Islamic Economics, Emerald Publishing Limited, 49-66.
Mohsin, M.I.A. (2013). Financing through cash-waqf: a revitalization to finance different needs. International Journal of Islamic and Middle Eastern Finance and Management, 6(4), 304-321.
Mohammad, M.T.S.H. (2011). Towards an Islamic social (waqf) bank. International Journal of Trade, Economics and Finance, 2(5), 381-386.
Mohammad, M.T.S.H. (2009). Alternative development financing instruments for waqf properties. Malaysian Journal of Real Estate, 4(2), 45-59.
Mohsin M.I.A. (2008). Cash waqf a new financial product model aspects of shariah principles on its commercialization. Paper presented at Islamic Banking, Accounting and Finance (iBAF).
Mokhtar, F.M., Sidin, E.M., & Abd Razak, D. (2015). Operation of cash waqf in Malaysia and its limitations. Journal of Islamic Economics, Banking and Finance, 1(13) 1-15.
Mubyarto (1988). Etika Keadilan Sosial Dalam Islam. In Mubyarto, et al. (Eds.). Islam dan Kemiskinan. Bandung, Indonesia: Pustaka.
Nadwi, M.A. (2015). A new framework of corporate governance for waqf: a preliminary proposal, Islam and Civilizational Renewal, 6 (3), 353-370.
Nadwi, M.A. & Kroessin, M. (2013). Cash waqf: exploring concepts, jurisprudential boundaries and applicability to contemporary Islamic microfinance. Islamic Relief Worldwide Working Paper Series, no. 2013-0x, Birmingham.
Nadya, PS., Alwyni, F.A., Hadiyati, P., & Iqbal, M. (2019). Strategy of Optimization Cash Waqf In Indonesia. Jurnal Syarikah: Jurnal Ekonomi Islam, 4(2), 108-121.
Nahar, S.H., & Yaacob, H. (2011). Accountability in the sacred context: the case of management, accounting and reporting of a Malaysian cash awqaf institution. Journal of Islamic Accounting and Business Research, 2(2), 87-113.
Nurrachmi, R. (2012), Implication of cash waqf in the society, Al-infaq, 3(2).
Osman, A.F., Htay, S.N.N., & Muhammad, M.O. (2012, April 12). Determinants of cash waqf giving in Malaysia: survey of selected works. Paper Presented in Workshop Antarbangsa Pembangunan Berteraskan Islam V (WAPI-5), Medan, Indonesia, 186-243.
Osman, A.F., Mohammed, M.O., & Amin, H. (2014). An analysis of cash waqf participation among young intellectuals. Paper presented at Istanbul 9th International Academic Conference (IIES), Turkey.
Osman, A.F., Mohammed, M.O., & Fadzil, A. (2016). Factor
influencing cash waqf giving behavior: a revised theory of planned behavior. Journal of Global Business and Social Entrepreneurship, 1(2), 12-25.
Perlis, K.M., Isa, M.B.M., Palil, R., & Dolah, N.H. (2014). Online waqf acceptance and determinant factors. International Journal of Business, Economics and Law, 5(2), 28-35.
Pitchay, A., Meera, A.K.M., & Saleem, M. (2015). Factors influencing the behavioral intentions of Muslim employees to contribute to cash-waqf through salary deductions. Journal of King Abdulaziz University: Islamic Economics, 28(1) 25-45.
Puad, N.A.M., Rafdi, N.J., & Shahar, W.S.S. (2014). Issues and challenges of waqf instrument: A case study in MAIS. In E-proceedings of The Conference on Management and Muamalah, 978–983.
Rashid, S.K. (2003). Current waqf experiences and the future of waqf institution. Awqaf, 5, 5-26.
Ratnasari, R.T., & Arifin, M.H., (2017, November 15). Theory of planned behavior in intention to pay cash waqf. Paper presented at the 1st International Conference on Islamic Economics, Business, and Philanthropy (ICIEBP) 2017.
Rizal, H., & Amin, H. (2017). Perceived ihsan, Islamic egalitarianism and Islamic religiosity towards charitable giving of cash waqf. Journal of Islamic Marketing, 8(4), 669-685.
Rusydiana, A. S., & Devi, A. (2018). Elaborating cash waqf development in Indonesia using analytic network. International Journal of Islamic Business and Economics (IJIBEC), 2(1), 1-13.
Saifuddin, F. B., Kadibi, S., Polat, R., Fidan, Y., & Kayadibi, O. (2014). The role of cash waqf in poverty alleviation: case of Malaysia. International Journal of Business, Economics and Law, 4(1), 171-179.
Sanusi, S., & Shafiai, M.H.M. (2015). The management of cash waqf: toward socio-economic development of Muslims in Malaysia. Jurnal Pengurusan, 43, 3-12.
Shukor, S.A., Anwar, I.F., & Sabri, H. (2015, April). Muslims participation in cash waqf: the case of Malaysia. Paper presented at the International Conference of Management Sciences. Malaysia.
Shukor, S.A., Anwar, I.F., Aziz, S.A., & Sabri, H. (2017a). Muslim attitude towards participation in cash waqf: antecedents and consequences. International Journal of Business and Society, 18(1), 193-204.
Shukor, S.A., Anwar, I.F., Sabri, H., Aziz, S.A., & Ariffin, A.R.M. (2017b), Giving behaviour: who donates cash waqf Malaysian. Journal of Consumer and Family Economics, 5(2), 87-100.
Siswantoro, D., & Dewi, M. K. (2007). The effectiveness of waqf fund raising through mutual fund in Indonesia. In M. Kahf, and S. M. Mohamood (Eds.), Singapore International Waqf Conference, p. 7
Siswantoro, D., Rosdiana, H., & Fathurahman, H. (2018). Reconstructing accountability of the cash waqf (endowment) institution in Indonesia. Managerial Finance, 44(5), 624-644.
Shinkafi, A.A., & Ali, N.A. (2017). Contemporary Islamic economic studies on Maqasid Shari’ah: a systematic literature review. Humanomics. 33(3), 315-334.
Suhaimi, F.M., Ab Rahman, A., & Marican, S. (2014). The role of share waqf in the socio-economic development of the Muslim community: The Malaysian experience. Humanomics, 30(3), 227-254.
Sulaiman, S., Hasan, A., Noor, A.M., Ismail, M. I., & Noordin, N.H. (2019). Proposed models for unit trust waqf and the parameters for their application. ISRA International Journal of Islamic Finance, 11(1), 62-81.
Thaker, M.A.M.T. (2018). A qualitative inquiry into cash waqf model as a source of financing for micro enterprises, ISRA International Journal of Islamic Finance. 10 (1), 19-35
Thaker, M.A.M.T., Mohammed, M.O., Duasa, J., & Abdullah, M.A. (2016). The behavioral intention of micro enterprises to use the integrated cash waqf micro enterprise investment (ICWME-I) model as a source of financing. Gadjah Mada International Journal of Business, 18(2), 111.
Thaker, M.A.M.T., Mohammed, M.O., Duasa, J., & Abdullah, M. A. (2016). Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia, Journal of Islamic Accounting and Business Research, 7(4), 254-267.
Toraman, C., Tunçsiper, B., & Yilmaz, S. (2007, August 9-11). Cash Awqaf in the Ottomans as philanthropic foundations and their accounting practices. Paper presented at the 5th Accounting History International Conference, Banff, Canada.
Victoria, O.A., & Ong, R. (2019). Law Development of Waqf Al-Nuqud (Cash Waqf) Towards Electronic Waqf (E-Waqf) Based on Public Welfare. Law Development Journal, 1(1), 13-17.
Wafa, S.M.G.W.S.A., (2010, January 6-7). Development of waqfs for education in Malaysia. In A.G. Ismail, M.E.M. Hassan, N. Ismail, & S. Shahimi (Eds.), Proceedings of the 7th International Conference on The Tawhidi epistemology: Zakat and waqf economy, 137-153.
Witjaksono, B. (2018). Factors which influence the intention of community in cash waqaf in sharia banking with theory planned behaviour (TPB) modification approach. Jurnal Ekonomi. 9 (2).
Yaacob, H. (2013). Waqf history and legislation in Malaysia: A contemporary perspective. Journal of Islamic and Human Advanced Research, 3(6), 387-402.
Yusof, M.F.M., Hasarudin, M.H., & Romlin, N. (2014). Cash waqf and infaq: a proposed e-philanthropy in Malaysia. Jurnal Kemanusiaan, 22(1), pp. 1-10.
Zabri, M.Z.M., & Mohammed, M.O. (2018). Examining the behavioral intention to participate in a cash waqf-financial cooperative-musharakah mutanaqisah home financing model. Managerial Finance, 44(6), 809-829.
Zarka, M.A. (2007, April 14). Leveraging philanthropy: monetary waqf for micro finance. Paper presented at the symposium towards an Islamic micro-finance, Harvard Law School, Massachusetts.
DOI: https://doi.org/10.18196/ijief.3236
Refbacks
- There are currently no refbacks.
Copyright (c) 2020 International Journal of Islamic Economics and Finance (IJIEF)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
International Journal of Islamic Economics and Finance (IJIEF)
International Program for Islamic Economics and Finance
Department of Economics
Faculty of Economics and Business
Universitas Muhammadiyah Yogyakarta
Pascasarjana Building, Ground Floor
Jl. Brawijaya (Ringroad Selatan), Kasihan, Bantul
D.I. Yogyakarta 55183, INDONESIA
Official email: ijief@umy.ac.id