Research Article
DIVERSIFYING INCOME GENERATION THROUGH WAQF IN PUBLIC UNIVERSITIES IN MALAYSIA: EFFORTS AND CHALLENGES
Abstract
In contemporary times, Ministry of Higher Education
(MoHE) in Malaysia has announced that public universities are expected to find alternatives for
income generation due to government budgetary constraints. The universities should
draw on diverse sources of revenue to
ensure long-term financial sustainability of their education system. The inherent features and good track of waqf in the prominent universities in the world is seen
as a possible solution to fund public
universities in Malaysia. Hence, the Ministry
of Higher Education has highlighted waqf as one of the ten shifts in Malaysian
Education Blueprint 2015-2025 (Higher Education). Additionally, MoHE has
launched the “University Transformation Programme” (UniTP) Purple Book
specifically focusing on enhancing university
revenue generation through waqf. The extreme
pressure has caused public universities
to set up waqf entity towards realizing the government’s aim. The UniTP Purple
Book becomes the reference for public universities
to set up a waqf entity in their institutions. Therefore, this paper seeks to look briefly into the Malaysian
Education Blueprint 2015-2025 (Higher Education) which outlines various areas
for university transformation a well as a brief discuasion
about UniTP Purple Book will be made
which serves as a guideline to public universities
to initiate waqf entity. Besides, this article further investigates the efforts
towards realizing waqf funds in public universities
as well as the challenges that arise. This study has incorporated qualitative
and exploratory approaches. Data
collected will be analyzed based on content analysis approach. In conclusion
part, the researchers offer some recommendations
to face the challenges that occur for future waqf in Malaysia’s higher
education. In addition, the landscape of
waqf implementation in other Islamic countries such as Turkey could be the best
reference for Malaysia to learn from and adapt. More importantly, it is hoped that this paper would
contribute to the betterment of waqf implementation in Malaysian public
universities.
Keywords
References
- Abd Halim Mohd Noor, Nor Aishah Mohd Ali, Aryani Abdullah, & Henny Hazliza Mohd Tahir. (2014). The waqf governance framework in Malaysia. In International Conference On Development Of Social Enterprise And Social Business For Eradication Of Extreme Poverty And Street Begging IIUCIC7-2014/ IC7-160. Azri Ahmad, Syarqawi Muhammad, & Mohd Asyran Safwan Kamaruzaman. (2012). Education development through waqf. In 3rd International Conference on Islam and Higher Education (pp. 1–22). Cizacka, M. (2013). A History of Philanthropic Foundations: the Islamic World From the Seventh Century To the Present. Journal of Chemical Information and Modeling (Vol. 53). Dzuljastri Abdul Razak. (2016). A study on sources of waqf funds for higher education in selected countries. In International Symposium on Waqf and Higher Education (ISWHE 2016) Istanbul, Turkey (pp. 33–39). Fadhilah Abdullah Asuhaimi, Zurina Shafii, & Mohamad Alias. (2015). The efforts of selected public universities in developing awqaf properties using cash waqf instrument. In International Conference on Cash Waqf 2015 (ICCW2105) (Vol. 1, pp. 156–164). http://doi.org/10.1017/CBO9781107415324.004 Fahmi Sheikh Omar. (2016). Effective model for Malaysian higher education. Retrieved December 27, 2016, from http://www.slideshare.net/fahmiuim/waqf-and-endowment-for-higher-education-the-malaysian-case?qid=d8b7d17d-78ec-493b-807f-137a70eaa17a&v=&b=&from_search=1 Hafizan Hek. (2016). UTM-MAIJ to implement education endowment fund. Retrieved December 31, 2016, from http://news.utm.my/2016/12/utm-maij-to-implement-education-endowment-fund/ Hidayatul Ihsan, & Abdullah Ayedh. (2015). A proposed framework of islamic governance for awqaf. Journal of Islamic Economics, Banking and Finance, 11(2), 117–132. Idris Jusoh. (2016). Public universities to increase waqf fund. Retrieved December 28, 2016, from http://eng.mynewshub.cc/public-universities-increase-waqf-fund-idris-jusoh/ Interview with Prof Dr.Wan Kamal Mujani, Dean, Faculty of Islamic Studies, (UKM, Selangor on 26 February 2016) Mahadi Ahmad, & Yakubu Hassan. (2015). Funding the Sub - Saharan African education sector with waqf : Experiences from al-Azhar university and selected universities in Malaysia. Journal of Creative Writing, 1(2), 40–54. Malaysia Education Blueprint 2015-2025 (Higher Education). (2015) (Vol. 2025). Ministry of Higher Education, M. (2016). The university transformation programme ( UniTP ) purple book: Enhanching university income generation, endowment and waqf. Mohamed Aslam Haneef. (2016). Funding of higher education in Malaysia- The potential role of awqaf and endowments. In International Symposium on Waqf and Higher Education (ISWHE 2016) Istanbul, Turkey (pp. 20–25). Noor Suhaida Kasri, & Mariyam Hamziyya. (2015). Financial inclusion, microfinance and women:Challenges and panacea. ISRA Islamic Finance, (3), 5. http://doi.org/10.1007/s13398-014-0173-7.2 Rohayati Hussin, Rusnadewi Abdul Rashid, & Noor Inayah Yaakub. (2016). Exploratory study on waqf implementation in Malaysian public and private Universities: With special reference to Turkish universities. International Journal of Business, Economics and Law, 9(4), 399–409. Shaya’a Othman. (2015). Managing waqf in Turkey and Malaysia for educational development. The best proposed model. In International Conference. Islamization and Intergration of Knowledge in East and South East Asia Reagion: Challenges and Prospects. Siti Fatahiyah Mahamood, & Siti Mashitoh Mahamood. (2016). Instilling islamic spiritually in management of waqf for higher education. In Rafeah Saidon et al. (Ed.), Wakaf Pendidikan Tinggi Prospek dan Cabaran (1st ed., pp. 197–205). UiTM. Siti Mashitoh Mahamood, & Asmak Ab Rahman. (2014). Waqf Financing for Higher Education: Contemporary Funding Applications in Some Selected Countries. In Proceeding Pelestarian Institusi Wakaf: Mmemperkasa Pendidikan Tinggi Negara (pp. 263–278). Siti Mashitoh Mahamood, & Asmak Ab Rahman. (2015). Financing universities through waqf , pious endowment : Is it possible ? Emerald Insight Humanomics, 31(4), 430–453. http://doi.org/10.1108/H-02-2015-0010 Siti Umairah Ali Hamdan. (2016). Konsep dan pelaksanaan wakaf korporat di institusi pengajian tinggi di negeri Selangor : Kajian menurut perspektif perundangan. Universiti Malaya. http://www.thestar.com.my/news/education/2016/07/17/guidebooks-on-transformation-for-varsities/. Retrieved 18 August 2016
Year 2017,
Volume: 3 Issue: 7, 223 - 231, 30.04.2017
Abstract
References
- Abd Halim Mohd Noor, Nor Aishah Mohd Ali, Aryani Abdullah, & Henny Hazliza Mohd Tahir. (2014). The waqf governance framework in Malaysia. In International Conference On Development Of Social Enterprise And Social Business For Eradication Of Extreme Poverty And Street Begging IIUCIC7-2014/ IC7-160. Azri Ahmad, Syarqawi Muhammad, & Mohd Asyran Safwan Kamaruzaman. (2012). Education development through waqf. In 3rd International Conference on Islam and Higher Education (pp. 1–22). Cizacka, M. (2013). A History of Philanthropic Foundations: the Islamic World From the Seventh Century To the Present. Journal of Chemical Information and Modeling (Vol. 53). Dzuljastri Abdul Razak. (2016). A study on sources of waqf funds for higher education in selected countries. In International Symposium on Waqf and Higher Education (ISWHE 2016) Istanbul, Turkey (pp. 33–39). Fadhilah Abdullah Asuhaimi, Zurina Shafii, & Mohamad Alias. (2015). The efforts of selected public universities in developing awqaf properties using cash waqf instrument. In International Conference on Cash Waqf 2015 (ICCW2105) (Vol. 1, pp. 156–164). http://doi.org/10.1017/CBO9781107415324.004 Fahmi Sheikh Omar. (2016). Effective model for Malaysian higher education. Retrieved December 27, 2016, from http://www.slideshare.net/fahmiuim/waqf-and-endowment-for-higher-education-the-malaysian-case?qid=d8b7d17d-78ec-493b-807f-137a70eaa17a&v=&b=&from_search=1 Hafizan Hek. (2016). UTM-MAIJ to implement education endowment fund. Retrieved December 31, 2016, from http://news.utm.my/2016/12/utm-maij-to-implement-education-endowment-fund/ Hidayatul Ihsan, & Abdullah Ayedh. (2015). A proposed framework of islamic governance for awqaf. Journal of Islamic Economics, Banking and Finance, 11(2), 117–132. Idris Jusoh. (2016). Public universities to increase waqf fund. Retrieved December 28, 2016, from http://eng.mynewshub.cc/public-universities-increase-waqf-fund-idris-jusoh/ Interview with Prof Dr.Wan Kamal Mujani, Dean, Faculty of Islamic Studies, (UKM, Selangor on 26 February 2016) Mahadi Ahmad, & Yakubu Hassan. (2015). Funding the Sub - Saharan African education sector with waqf : Experiences from al-Azhar university and selected universities in Malaysia. Journal of Creative Writing, 1(2), 40–54. Malaysia Education Blueprint 2015-2025 (Higher Education). (2015) (Vol. 2025). Ministry of Higher Education, M. (2016). The university transformation programme ( UniTP ) purple book: Enhanching university income generation, endowment and waqf. Mohamed Aslam Haneef. (2016). Funding of higher education in Malaysia- The potential role of awqaf and endowments. In International Symposium on Waqf and Higher Education (ISWHE 2016) Istanbul, Turkey (pp. 20–25). Noor Suhaida Kasri, & Mariyam Hamziyya. (2015). Financial inclusion, microfinance and women:Challenges and panacea. ISRA Islamic Finance, (3), 5. http://doi.org/10.1007/s13398-014-0173-7.2 Rohayati Hussin, Rusnadewi Abdul Rashid, & Noor Inayah Yaakub. (2016). Exploratory study on waqf implementation in Malaysian public and private Universities: With special reference to Turkish universities. International Journal of Business, Economics and Law, 9(4), 399–409. Shaya’a Othman. (2015). Managing waqf in Turkey and Malaysia for educational development. The best proposed model. In International Conference. Islamization and Intergration of Knowledge in East and South East Asia Reagion: Challenges and Prospects. Siti Fatahiyah Mahamood, & Siti Mashitoh Mahamood. (2016). Instilling islamic spiritually in management of waqf for higher education. In Rafeah Saidon et al. (Ed.), Wakaf Pendidikan Tinggi Prospek dan Cabaran (1st ed., pp. 197–205). UiTM. Siti Mashitoh Mahamood, & Asmak Ab Rahman. (2014). Waqf Financing for Higher Education: Contemporary Funding Applications in Some Selected Countries. In Proceeding Pelestarian Institusi Wakaf: Mmemperkasa Pendidikan Tinggi Negara (pp. 263–278). Siti Mashitoh Mahamood, & Asmak Ab Rahman. (2015). Financing universities through waqf , pious endowment : Is it possible ? Emerald Insight Humanomics, 31(4), 430–453. http://doi.org/10.1108/H-02-2015-0010 Siti Umairah Ali Hamdan. (2016). Konsep dan pelaksanaan wakaf korporat di institusi pengajian tinggi di negeri Selangor : Kajian menurut perspektif perundangan. Universiti Malaya. http://www.thestar.com.my/news/education/2016/07/17/guidebooks-on-transformation-for-varsities/. Retrieved 18 August 2016
There are 1 citations in total.
Details
| Journal Section | Articles |
|---|---|
| Authors | |
| Publication Date | April 30, 2017 |
| Submission Date | April 28, 2017 |
| Published in Issue | Year 2017Volume: 3 Issue: 7 |
Contact: ijasosjournal@hotmail.com
The IJASOS Journal's site and its metadata are licensed under CC BY
Published and Sponsored by OCERINT International © 2015- 2024