Financial Performance and Sustainability in Malaysian Waqf Institutions
Asia Proceedings of Social Sciences, 6(2), 169-173
5 Pages Posted: 23 Jun 2020
Date Written: 2020
The article was design to measure the financial performance and sustainability in selected Malaysian institutions. Examining its performance and sustainability could be useful to assess waqf perpetual existence. Besides that, waqf institutions frequently compare actual performance with standards or expectations to enhance the organizations’ achievements. Thus, by using ratio analysis, this study examines five years (2014-2018) annual reports of waqf private entity administered by Pusat Wakaf Majlis Agama Islam Wilayah Persekutuan Sdn. Bhd (PWMSB) and two waqf corporations which are Pusat Wakaf Selangor (PWS) and Wakaf An-Nur Corporation (WANCorp). The findings indicate that in all seven components only one waqf institution has been financially performed and sustained. The results provide valuable insights into the financial performance and sustainability of waqf institutions, and highlight the need for policy makers in Malaysia and other Muslim countries due attention to the systemic accountability to ensure the systematic revival of waqf institutions. It is hoped that the study's findings and recommendations will allow these institutions to report financially and to be accountable at a higher level.
Keywords: Financial Performance, Financial Sustainability, Waqf
JEL Classification: M41
Suggested Citation: Suggested Citation