Recommendations for collection and development strategy of waqf funds: A case study on waqf institutions
Purpose – This study aims to examine phenomena related to the collection and development of waqf funds by waqf institutions and formulate recommendations regarding applicable strategies to optimize the collection and development of waqf funds based on the principles of commitment-trust theory. Met...
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| Format: | Article |
| Language: | English |
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Center for Islamic Economics Studies and Development
2022-02-01
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| Series: | Jurnal Ekonomi dan Keuangan Islam |
| Subjects: | |
| Online Access: | https://journal.uii.ac.id/JEKI/article/view/22024 |
| _version_ | 1811309314741108736 |
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| author | Putri Purwandari Hasan Elvia R. Shauki |
| author_facet | Putri Purwandari Hasan Elvia R. Shauki |
| author_sort | Putri Purwandari Hasan |
| collection | DOAJ |
| description |
Purpose – This study aims to examine phenomena related to the collection and development of waqf funds by waqf institutions and formulate recommendations regarding applicable strategies to optimize the collection and development of waqf funds based on the principles of commitment-trust theory.
Methodology – This study applied a case study approach with a qualitative method at 5 (five) different waqf institutions in Indonesia to further explore the phenomena related to the collection and development of waqf funds. Data was collected through semi-structured interviews.
Findings – The results of this study indicate that several problems, i.e. low literacy of waqf, lack of professionalism of nazhir, and low accountability of waqf institutions are still encountered by waqf institutions in collecting and developing waqf funds. In addition, the efforts made by waqf institutions have not been sufficiently qualified to foster waqif’s commitment and trust to optimize the collection and development of waqf funds. Therefore, several recommendations on applicable strategies for waqf managers are formulated based on the four precursors outlined in the commitment-trust theory, namely shared values, relationship benefits, communication, and non-opportunistic behavior. These recommendations include reaffirming the values of waqf institutions, making efforts to maintain good relations with waqifs, keeping good communication with waqifs, and improving transparency of financial reports.
Originality – This study complements the research gap of the limited studies on the collection and development of waqf funds. In addition, previous studies on this topic did not implement the commitment-trust theory.
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| first_indexed | 2024-04-13T09:40:08Z |
| format | Article |
| id | doaj.art-b17f27943cae4c7c907f22cd18acf95d |
| institution | Directory Open Access Journal |
| issn | 2088-9968 2614-6908 |
| language | English |
| last_indexed | 2024-04-13T09:40:08Z |
| publishDate | 2022-02-01 |
| publisher | Center for Islamic Economics Studies and Development |
| record_format | Article |
| series | Jurnal Ekonomi dan Keuangan Islam |
| spelling | doaj.art-b17f27943cae4c7c907f22cd18acf95d2022-12-22T02:51:57ZengCenter for Islamic Economics Studies and DevelopmentJurnal Ekonomi dan Keuangan Islam2088-99682614-69082022-02-018110.20885/jeki.vol8.iss1.art10Recommendations for collection and development strategy of waqf funds: A case study on waqf institutionsPutri Purwandari Hasan0Elvia R. Shauki1Faculty of Economics and Business, Universitas Indonesia, Jakarta, IndonesiaFaculty of Economics and Business, Universitas Indonesia, Jakarta, Indonesia Purpose – This study aims to examine phenomena related to the collection and development of waqf funds by waqf institutions and formulate recommendations regarding applicable strategies to optimize the collection and development of waqf funds based on the principles of commitment-trust theory. Methodology – This study applied a case study approach with a qualitative method at 5 (five) different waqf institutions in Indonesia to further explore the phenomena related to the collection and development of waqf funds. Data was collected through semi-structured interviews. Findings – The results of this study indicate that several problems, i.e. low literacy of waqf, lack of professionalism of nazhir, and low accountability of waqf institutions are still encountered by waqf institutions in collecting and developing waqf funds. In addition, the efforts made by waqf institutions have not been sufficiently qualified to foster waqif’s commitment and trust to optimize the collection and development of waqf funds. Therefore, several recommendations on applicable strategies for waqf managers are formulated based on the four precursors outlined in the commitment-trust theory, namely shared values, relationship benefits, communication, and non-opportunistic behavior. These recommendations include reaffirming the values of waqf institutions, making efforts to maintain good relations with waqifs, keeping good communication with waqifs, and improving transparency of financial reports. Originality – This study complements the research gap of the limited studies on the collection and development of waqf funds. In addition, previous studies on this topic did not implement the commitment-trust theory. https://journal.uii.ac.id/JEKI/article/view/22024waqffundscollectiondevelpomentcommitment-trust theory |
| spellingShingle | Putri Purwandari Hasan Elvia R. Shauki Recommendations for collection and development strategy of waqf funds: A case study on waqf institutions Jurnal Ekonomi dan Keuangan Islam waqf funds collection develpoment commitment-trust theory |
| title | Recommendations for collection and development strategy of waqf funds: A case study on waqf institutions |
| title_full | Recommendations for collection and development strategy of waqf funds: A case study on waqf institutions |
| title_fullStr | Recommendations for collection and development strategy of waqf funds: A case study on waqf institutions |
| title_full_unstemmed | Recommendations for collection and development strategy of waqf funds: A case study on waqf institutions |
| title_short | Recommendations for collection and development strategy of waqf funds: A case study on waqf institutions |
| title_sort | recommendations for collection and development strategy of waqf funds a case study on waqf institutions |
| topic | waqf funds collection develpoment commitment-trust theory |
| url | https://journal.uii.ac.id/JEKI/article/view/22024 |
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