Search IKR


Recently added

Enhancing synergy in the waqf ecosystem in Malaysia: promoting in increased waqf contributions among beneficiaries donors, and mutawalli
Fuadah Johari; Fauzias Mat Noor; Baharom Abdul Hamid; Wan Ahmad Amir Zal; Ahmad Fahme Mohd Ali; Hanim Misbah; Hasnah Haron; Syahidawati Shahwan; Zurina Shafii; Amir Shaharuddin; Azuan Ahmad; Ziyaad Mahomed; Kinan Salim; Muhammad Mohamad Yusoff; Wiaam Hassan; Nur Atikah Atan (Social Sciences Bibliography Indexes and Archive Data (SOBIAD), 2023)

This research endeavour aimsto foster collaboration among beneficiaries, donors, and waqf managers (mutawalli) by deeply understanding the prevailing legislative framework. Employing a concept-driven qualitative methodology, we conducted content analysis through a deductive approach. The investigation employed three key attributes, namely "use more, donate more, and share more," to systematically explore the ramifications of established concepts in a broader context. Focus Group Discussions (FGDs) were conducted, and subsequently, the transcribed text from these FGDs underwent meticulous analysis. The study culminates in the proposition that beneficiaries, donors, and mutawalli can synchronize their effortsthrough the waqf project by: 1) opting for increased utilization when the waqf project offers goods and services either free of charge or at a more affordable rate compared to the prevailing market prices; 2) contributing higher donations through various means such as cash, deductions from salaries, electronic payments, or in-kind contributions; and 3) enhancing information dissemination by utilizing platforms such as social media (WhatsApp, Facebook, YouTube, TikTok, etc.), mass media (television and radio), roadshows, interpersonal communication, and various online channels to propagate the cause. The initiative for synergy examines the applicability of the "benefidonors" term within the present context. The findings demonstrate that the concept of Benefidonors can indeed facilitate the collaborative sharing of information, thereby amplifying waqf contributions from beneficiaries, donors, and mutawalli. As a culmination of the study, a refined Benefidonors model is delineated, providing a comprehensive framework for effective collaboration.

Islamic fintech: accelerating the financial inclusion agenda in Malaysia
Marjan Muhammad (Nomura Foundation, 2023)

Financial technology (fintech) refers to the application of technology-software, algorithms and even hardware-to traditional financial services to save time, optimise cost, and enhance efficiency and user experience. Fintech applications, which include digital payment, internet and mobile banking, peer-to-peer (P2P) financing, equity crowdfunding (ECF), robo-advisory, digital asset exchanges, insuretech, and e-services have provided innovative solutions to various stakeholders, either the surplus units (i.e., investors who have excess funds) or deficit units (i.e., parties who need funds). Islamic fintech, on the other hand, refers to the use of technology to deliver financial services and solutions that comply with the Shariah principles and requirements, promote the well-being of mankind, and integrate ethical elements to attain fairness and justice.

Case for a centralized database for waqf administration in Malaysia
Ziyaad Mahomed; Baharom Abdul Hamid; Kinan Salim; Ahmad Fahme Mohd Ali; Fauzias Mat Nor; Fuadah Johari; Wan Ahmad Amir Zal; Wiaam Hassan (Oxbridge Publishing House, 2023)

The aim of this paper is to evaluate the various existing models of waqf in practice and determine their applicability within the context of Malaysia. This study was undertaken to investigate the practicality, feasibility, and potential success of implementing a centralized database for the administration of waqf. The research process involved extensive desktop research and thorough benchmarking analyses. Additionally, the study delved into the identification of obstacles and challenges. To provide comprehensive insights, case studies were meticulously compared and contrasted. The findings of this study indicate that the establishment of a centralized national Waqf database would significantly enhance the efficiency and effectiveness of Waqf operations and administration. Furthermore, it would contribute to the enhancement of integrity and transparency within the system. Following this line of thought, the adoption of such a system aligns with the principles of maqasid al-Shariah, ultimately safeguarding the reputation of Islam.

Understanding blockchain technology in Islamic social finance and its opportunities in metaverse
Sherin Kunhibava; Zakariya Mustapha; Maryam Khalid; Aishath Muneeza (IEEE, 2023)

The use of blockchain technology in financing has been based on its high benefits of efficiency and transparency. However, not many in-depth discussions have been done on such blockchain utilization for Islamic social finance or the metaverse. This paper

Dawabit 'iqmal maqasid al-Shari'ah fi tawjih al-mu'amalat al-maliya al-mu'asirat
Said Bouheraoua (International Islamic Fiqh Association, 2023)

An abstract is written in Arabic.