Trust me! a case study of the International Islamic University Malaysia’s waqf fund

Abstract: This paper documents the development of the International Islamic University Malaysia’s waqf Fund (IIUMWF) from its inception in 1999 to the present as well as examining its accounting practice. Specifically, we examined four pertinent areas: the management of the fund, the fundraising act...

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Main Authors:	Sulaiman, Maliah, Adnan, Muhammad Akhyar, Megat Mohd Nor, Putri Nor Suad
Format:	Article
Language:	English
Published:	International Association for Islamic Economics 2009
Subjects:	HG4301 Trust services
Online Access:	http://irep.iium.edu.my/13548/ http://irep.iium.edu.my/13548/ http://irep.iium.edu.my/13548/1/RIE-2009-13-1-PAPER_3-SULAIMAN_ET_AL-TRUST_ME-A_CASE______STUDY_OF_THE_IIUM_WAQF_FUND.pdf

id	iium-13548
recordtype	eprints
spelling	iium-135482019-08-08T04:19:54Z http://irep.iium.edu.my/13548/ Trust me! a case study of the International Islamic University Malaysia’s waqf fund Sulaiman, Maliah Adnan, Muhammad Akhyar Megat Mohd Nor, Putri Nor Suad HG4301 Trust services Abstract: This paper documents the development of the International Islamic University Malaysia’s waqf Fund (IIUMWF) from its inception in 1999 to the present as well as examining its accounting practice. Specifically, we examined four pertinent areas: the management of the fund, the fundraising activities (and the types of funds, waqf khass or waqf [amm), the programmes undertaken and the accounting practices of the IIUMWF. The theoretical framework is based on the Islamic concept of accountability. On this, there are two pertinent issues addressed in this study. The first is on disclosure and the second assesses the performance of the waqf. We examined the accounts of the IIUMWF and benchmarked against the framework developed by Ihsan and Shahul (2007). As for performance, we computed three ratios to assess its efficiency: ‘Programme Expenses to Total Expenses’, ‘Investment Income to Average Investment’, and ‘Fund Raising Expenses to Total Related Contributions’. We concluded our paper with various suggestions and recommendations for further improvements in the management and accounting practices of waqfs in general and the IIUM waqf Fund in particular. International Association for Islamic Economics 2009 Article PeerReviewed application/pdf en http://irep.iium.edu.my/13548/1/RIE-2009-13-1-PAPER_3-SULAIMAN_ET_AL-TRUST_ME-A_CASE______STUDY_OF_THE_IIUM_WAQF_FUND.pdf Sulaiman, Maliah and Adnan, Muhammad Akhyar and Megat Mohd Nor, Putri Nor Suad (2009) Trust me! a case study of the International Islamic University Malaysia’s waqf fund. Review of Islamic Economics, 13 (1). pp. 69-88. ISSN 0962-2055 http://www.iaie.net/pages/REVIEW_OF_ISLAMIC_ECONOMICS.aspx
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG4301 Trust services
spellingShingle	HG4301 Trust services Sulaiman, Maliah Adnan, Muhammad Akhyar Megat Mohd Nor, Putri Nor Suad Trust me! a case study of the International Islamic University Malaysia’s waqf fund
description	Abstract: This paper documents the development of the International Islamic University Malaysia’s waqf Fund (IIUMWF) from its inception in 1999 to the present as well as examining its accounting practice. Specifically, we examined four pertinent areas: the management of the fund, the fundraising activities (and the types of funds, waqf khass or waqf [amm), the programmes undertaken and the accounting practices of the IIUMWF. The theoretical framework is based on the Islamic concept of accountability. On this, there are two pertinent issues addressed in this study. The first is on disclosure and the second assesses the performance of the waqf. We examined the accounts of the IIUMWF and benchmarked against the framework developed by Ihsan and Shahul (2007). As for performance, we computed three ratios to assess its efficiency: ‘Programme Expenses to Total Expenses’, ‘Investment Income to Average Investment’, and ‘Fund Raising Expenses to Total Related Contributions’. We concluded our paper with various suggestions and recommendations for further improvements in the management and accounting practices of waqfs in general and the IIUM waqf Fund in particular.
format	Article
author	Sulaiman, Maliah Adnan, Muhammad Akhyar Megat Mohd Nor, Putri Nor Suad
author_facet	Sulaiman, Maliah Adnan, Muhammad Akhyar Megat Mohd Nor, Putri Nor Suad
author_sort	Sulaiman, Maliah
title	Trust me! a case study of the International Islamic University Malaysia’s waqf fund
title_short	Trust me! a case study of the International Islamic University Malaysia’s waqf fund
title_full	Trust me! a case study of the International Islamic University Malaysia’s waqf fund
title_fullStr	Trust me! a case study of the International Islamic University Malaysia’s waqf fund
title_full_unstemmed	Trust me! a case study of the International Islamic University Malaysia’s waqf fund
title_sort	trust me! a case study of the international islamic university malaysia’s waqf fund
publisher	International Association for Islamic Economics
publishDate	2009
url	http://irep.iium.edu.my/13548/ http://irep.iium.edu.my/13548/ http://irep.iium.edu.my/13548/1/RIE-2009-13-1-PAPER_3-SULAIMAN_ET_AL-TRUST_ME-A_CASE______STUDY_OF_THE_IIUM_WAQF_FUND.pdf
first_indexed	2023-09-18T20:22:42Z
last_indexed	2023-09-18T20:22:42Z
_version_	1777408212827373568

Trust me! a case study of the International Islamic University Malaysia’s waqf fund

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