Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia

This study aims at determining the investment strategies of Masjids in Malaysia. Drawing from the success story of Tabung Haj, the study has focused on establishing the need for the efficiency in investing Tabung Masjid toward benefiting the public and fulfilling maqāÎid al-SharÊÑah (Objectives of S...

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Main Authors:	Zakariyah, Luqman, Sarif, Suhaimi Mhd, Ahmad H.Osman, Rahmah, Abdul Rahman, Shukran, Mohd Noor, Azman
Format:	Article
Language:	English
Published:	International Islamic University Malaysia 2017
Subjects:	BJ Ethics BL Religion H Social Sciences (General) HJ Public Finance KBP Islamic Law KBP1 Islamic law.Shariah.Fiqh KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. KPG Malaysia
Online Access:	http://irep.iium.edu.my/61089/ http://irep.iium.edu.my/61089/ http://irep.iium.edu.my/61089/1/Journal%20of%20Islam%20in%20Asia.pdf

id	iium-61089
recordtype	eprints
spelling	iium-610892018-01-15T07:47:08Z http://irep.iium.edu.my/61089/ Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia Zakariyah, Luqman Sarif, Suhaimi Mhd Ahmad H.Osman, Rahmah Abdul Rahman, Shukran Mohd Noor, Azman BJ Ethics BL Religion H Social Sciences (General) HJ Public Finance KBP Islamic Law KBP1 Islamic law.Shariah.Fiqh KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. KPG Malaysia This study aims at determining the investment strategies of Masjids in Malaysia. Drawing from the success story of Tabung Haj, the study has focused on establishing the need for the efficiency in investing Tabung Masjid toward benefiting the public and fulfilling maqāÎid al-SharÊÑah (Objectives of SharÊÑah). The study introduces a MaqÉÎid based framework to test the significance of investing TM. The sample consists of 287 mosques in 9 states of Malaysia. Cross-tabulation, ANOVA, and correlations were conducted on the data collected through self-administered questionnaire. Granger causality test is performed on the forecasted investment and development indicators. Cross-tabulation results indicated that amount of donations and investment strategies of tabung vary states in Malaysia. ANOVA results have proved that money saved by mosques in banks varies significantly among states. Tukey test results indicate that mosques in southern states save less amount of Tabung Masjid in the bank compared to the masjid in other states. Correlation results proved that savings in the bank have a negative relationship with the intention toward general and capital investment. Investment of Tabung Masjid is found to have a significant positive causal relationship with economic development. Data used for analysis is of opinion and forecasted values, the exact amount of donation and investment in various sources could not be obtained. Efficient utilization of Tabung Masjid will allow mosques to play a significant role in shaping the socio-economic profile of Muslim community in Malaysia and similar initiative will also be helpful for any developing countries. International Islamic University Malaysia 2017-12-30 Article PeerReviewed application/pdf en http://irep.iium.edu.my/61089/1/Journal%20of%20Islam%20in%20Asia.pdf Zakariyah, Luqman and Sarif, Suhaimi Mhd and Ahmad H.Osman, Rahmah and Abdul Rahman, Shukran and Mohd Noor, Azman (2017) Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia. Journal of Islam in Asia, 14 (2). pp. 283-308. ISSN 1823-0970 E-ISSN 2289-8077 http://journals.iium.edu.my/jiasia/index.php/Islam
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	BJ Ethics BL Religion H Social Sciences (General) HJ Public Finance KBP Islamic Law KBP1 Islamic law.Shariah.Fiqh KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. KPG Malaysia
spellingShingle	BJ Ethics BL Religion H Social Sciences (General) HJ Public Finance KBP Islamic Law KBP1 Islamic law.Shariah.Fiqh KBP425 Uṣūl al-fiqh. Jurisprudence and theory of law. Science of legal reasoning. KPG Malaysia Zakariyah, Luqman Sarif, Suhaimi Mhd Ahmad H.Osman, Rahmah Abdul Rahman, Shukran Mohd Noor, Azman Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia
description	This study aims at determining the investment strategies of Masjids in Malaysia. Drawing from the success story of Tabung Haj, the study has focused on establishing the need for the efficiency in investing Tabung Masjid toward benefiting the public and fulfilling maqāÎid al-SharÊÑah (Objectives of SharÊÑah). The study introduces a MaqÉÎid based framework to test the significance of investing TM. The sample consists of 287 mosques in 9 states of Malaysia. Cross-tabulation, ANOVA, and correlations were conducted on the data collected through self-administered questionnaire. Granger causality test is performed on the forecasted investment and development indicators. Cross-tabulation results indicated that amount of donations and investment strategies of tabung vary states in Malaysia. ANOVA results have proved that money saved by mosques in banks varies significantly among states. Tukey test results indicate that mosques in southern states save less amount of Tabung Masjid in the bank compared to the masjid in other states. Correlation results proved that savings in the bank have a negative relationship with the intention toward general and capital investment. Investment of Tabung Masjid is found to have a significant positive causal relationship with economic development. Data used for analysis is of opinion and forecasted values, the exact amount of donation and investment in various sources could not be obtained. Efficient utilization of Tabung Masjid will allow mosques to play a significant role in shaping the socio-economic profile of Muslim community in Malaysia and similar initiative will also be helpful for any developing countries.
format	Article
author	Zakariyah, Luqman Sarif, Suhaimi Mhd Ahmad H.Osman, Rahmah Abdul Rahman, Shukran Mohd Noor, Azman
author_facet	Zakariyah, Luqman Sarif, Suhaimi Mhd Ahmad H.Osman, Rahmah Abdul Rahman, Shukran Mohd Noor, Azman
author_sort	Zakariyah, Luqman
title	Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia
title_short	Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia
title_full	Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia
title_fullStr	Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia
title_full_unstemmed	Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia
title_sort	investing muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia
publisher	International Islamic University Malaysia
publishDate	2017
url	http://irep.iium.edu.my/61089/ http://irep.iium.edu.my/61089/ http://irep.iium.edu.my/61089/1/Journal%20of%20Islam%20in%20Asia.pdf
first_indexed	2023-09-18T21:26:37Z
last_indexed	2023-09-18T21:26:37Z
_version_	1777412234789519360

Investing Muslim public funds for fulfilling maqasid al-shari'ah: a case study of tabung masjid in malaysia

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