A Proposed Framework of Islamic Governance for Awqaf

Journal of Islamic Economics, Banking and Finance, Vol. 11 No. 2, pp. 117-133

17 Pages Posted: 9 Feb 2016

See all articles by Hidayatul Ihsan

Hidayatul Ihsan

Padang State Polytechnic

Abdullah Ayedh

Islamic Science University of Malaysia

Date Written: June 1, 2015

Abstract

With the increasing clamoring for the revival of waqf (plural awqaf) institution, more attention has been accorded to good governance and best practices of waqf by scholars and other stakeholders. This is due to the recognition of the adoption of best practice of good governance as a critical success factors for revitalizing awqaf institutions. Despite the unprecedented call for the adoption of best practice of good governance, studies regarding this crucial issue are limited. This is probably because of the conception which exclusively relates governance only to commercial sectors. In fact, governance in charitable and not-for profit organizations has huge responsibilities of demonstrating convincing accountability to stakeholders. This paper therefore attempts to review some Islamic concepts and values which underpin the governance framework for awqaf institutions and thus demonstrate the Islamic accountability of mutawalli (awqaf manager).

Keywords: Awqaf, Governance, Islamic accountability

JEL Classification: E21, E22, E23, L39

Suggested Citation

Ihsan, Hidayatul and Ayedh, Abdullah, A Proposed Framework of Islamic Governance for Awqaf (June 1, 2015). Journal of Islamic Economics, Banking and Finance, Vol. 11 No. 2, pp. 117-133, Available at SSRN: https://ssrn.com/abstract=2728408

Hidayatul Ihsan (Contact Author)

Padang State Polytechnic ( email )

Limau Manis Campus
Padang, West Sumatra
Indonesia

Abdullah Ayedh

Islamic Science University of Malaysia

Nilai, Negeri Sembilan Darul Khusus 71800
Malaysia

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