Corporate Waqf: Discovering the Primary Challenges

Abstract

This study aims to explore and understand the key challenges of corporate waqf management and its implementation, particularly in Malaysia. This study adopted a qualitative approach. Specifically, data obtained from three interviews that involved an academician, a Shariah scholar and a business practitioner have been examined thoroughly. Generally, this study discovers three primary challenges pertaining to corporate waqf and its possible implementation. Legal constraint based on current regulatory settings of waqf management, narrow mindset of key stakeholders and lack of awareness and understanding amongst the general public are the core reasons that impede the successful acceptance and implementation of corporate waqf. This study is expected to contribute to the improvement of the waqf management. It provides an initial understanding about the primary issues that would be confronted when implementing corporate waqf. Thus, it puts forward several insights about the future strategies for positioning corporate waqf into practice.