Sustainability of Waqf Benefits: Governance and Legal Issues towards a Better Transparency System

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Marziana Binti Abd. Malib, Ruzian Binti Markom, Mohd. Izzat Amsyar Bin Mohd. Arif, Mimi Sofiah Ahmad Mustafa, Yuhanza Binti Othman, Ida Rahayu Binti Mahat, Robaisya Binti Rahmat

Résumé

Waqf transactions are no stranger to the management of Muslim property. In fact, waqf is also recognized as the third sector of the country's economy with potential and is one of the important socio-economic resources for Muslims. This is because of its features that focus on the sustainability of the benefits of waqf assets to its recipients. Therefore, it is very important to ensure the sustainability of wakaf assets is preserved and realized by ensuring that wakaf governance is implemented efficiently and effectively. However, previous studies also show that there are weaknesses in governance and the factors of non -uniform legal provisions as well as provisions related to governance are also not clear. Emphasis on accountability and transparency is also not emphasized. Therefore, the objective of this study will look at the challenges of governance by MAIN as the sole trustee of wakaf assets and look at the existing legal aspects in Malaysia as well as the role of the Department of wakaf, hajj and zakat (JAWHAR) in helping to facilitate the implementation of wakaf asset governance. suggested improvements to the existing system and this study also compared syariah and conventional governance. The methodology of this study is implemented through concept paper and Qualitative method by referring to primary and secondary sources followed by content analysis method. The findings of the study show that the goal of sustainability of waqf benefits will not be achieved if the issues of governance and legal provisions are not addressed properly. It is hoped that this study can help MAIN, JAWHAR and stakeholders through the proposal of a better governance and legal framework in helping the sustainability of the benefits of waqf assets and at the same time can help the socio-economic strength of Muslims.

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