Performance Measurement and Accountability of WAQF Institutions in Malaysia

It has been seen for the past few years that the revival of waqf institutions has been an upsurge interest of Muslim communities around the world. In line with the revitalization, the issues of measuring and managing waqf performance are growingly being discussed and concerned by the academicians an...

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Main Authors: Arshad Roshayani, Mohd Zain Norzaihan
Format: Article
Language:English
Published: EDP Sciences 2017-01-01
Series:SHS Web of Conferences
Subjects:
Online Access:https://doi.org/10.1051/shsconf/20173600005
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author Arshad Roshayani
Mohd Zain Norzaihan
author_facet Arshad Roshayani
Mohd Zain Norzaihan
author_sort Arshad Roshayani
collection DOAJ
description It has been seen for the past few years that the revival of waqf institutions has been an upsurge interest of Muslim communities around the world. In line with the revitalization, the issues of measuring and managing waqf performance are growingly being discussed and concerned by the academicians and constituents. Waqf institutions need to demonstrate their performance as whether they have effectively and efficiently managed in order to discharge their accountability to various waqf stakeholders. There are many studies conducted to measure the performance of various organizations in the private, public and third sector. However, studies on the performance measurement of waqf institution are still limited, and financial ratios become the dominant measurement in those studies. Being a non-profit in nature and religious entity, managing the entrusted waqf assets for social and economic development of the society, the performance measurement of waqf institutions should also focus on realizing their missions. Therefore, the aim of this paper is to discuss both financial and non-financial measurement that can be adapted by waqf institutions to assess their performance in discharging their accountability. Drawing from the experience on performance measurement discussed in the non-profit organizations literatures, this conceptual paper is hoped to provide significant insight on how waqf institutions performance may be measured and provide a tool to benchmark the best practices that can guide them to achieve their goals and missions.
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spelling doaj.art-4d7505432556423691d7a4ac224eb3ab2022-12-21T19:54:16ZengEDP SciencesSHS Web of Conferences2261-24242017-01-01360000510.1051/shsconf/20173600005shsconf_icga2017_00005Performance Measurement and Accountability of WAQF Institutions in MalaysiaArshad RoshayaniMohd Zain NorzaihanIt has been seen for the past few years that the revival of waqf institutions has been an upsurge interest of Muslim communities around the world. In line with the revitalization, the issues of measuring and managing waqf performance are growingly being discussed and concerned by the academicians and constituents. Waqf institutions need to demonstrate their performance as whether they have effectively and efficiently managed in order to discharge their accountability to various waqf stakeholders. There are many studies conducted to measure the performance of various organizations in the private, public and third sector. However, studies on the performance measurement of waqf institution are still limited, and financial ratios become the dominant measurement in those studies. Being a non-profit in nature and religious entity, managing the entrusted waqf assets for social and economic development of the society, the performance measurement of waqf institutions should also focus on realizing their missions. Therefore, the aim of this paper is to discuss both financial and non-financial measurement that can be adapted by waqf institutions to assess their performance in discharging their accountability. Drawing from the experience on performance measurement discussed in the non-profit organizations literatures, this conceptual paper is hoped to provide significant insight on how waqf institutions performance may be measured and provide a tool to benchmark the best practices that can guide them to achieve their goals and missions.https://doi.org/10.1051/shsconf/20173600005WaqfPerformance MeasurementAccountability
spellingShingle Arshad Roshayani
Mohd Zain Norzaihan
Performance Measurement and Accountability of WAQF Institutions in Malaysia
SHS Web of Conferences
Waqf
Performance Measurement
Accountability
title Performance Measurement and Accountability of WAQF Institutions in Malaysia
title_full Performance Measurement and Accountability of WAQF Institutions in Malaysia
title_fullStr Performance Measurement and Accountability of WAQF Institutions in Malaysia
title_full_unstemmed Performance Measurement and Accountability of WAQF Institutions in Malaysia
title_short Performance Measurement and Accountability of WAQF Institutions in Malaysia
title_sort performance measurement and accountability of waqf institutions in malaysia
topic Waqf
Performance Measurement
Accountability
url https://doi.org/10.1051/shsconf/20173600005
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