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This paper analyzes the governance implemented to resolve Shariah-related issues in the development of waqf in Malaysia. The study adopts a qualitative research approach employing a collective case study design. Four states were selected as study samples, and semi-structured interviews were conducted with officers from the State Islamic Religious Council (SIRC) or its subsidiaries appointed as mutawalli, officers from the State Mufti Department, as well as Muftis, Deputy Muftis, or members of the State Fatwa Committee. Thematic analysis is employed to highlight themes related to the governance of resolving Shariah issues in the development of waqf in Malaysia. The findings indicate that the development of waqf in Malaysia is subject to governance at the state rather than federal level. Consequently, in the context of Shariah governance for waqf development, two institutions in each state are involved, namely the waqf institution as mutawalli managing waqf assets and the Fatwa Committee. Additionally, the Fatwa Committee plays an advisory role for the waqf institution in ensuring Shariah compliance of products and waqf development management. [ABSTRACT FROM AUTHOR]

The role of waqf in Higher Education Institutions is currently being discussed. Waqf has proven to be an effective instrument in higher education financing. However, waqf funds need to be optimized to ensure the sustainability of waqf itself. Therefore, all related parties should seek alternatives and solutions to ensure the sustainability of waqf. The first objective of this paper is to examine the management of waqf in higher education institution with a case study at University College Bestari (UCB), Terengganu, Malaysia. Secondly, to analyze issues of waqf sustainability and methods used by UCB in ensuring the sustainability of their waqf. This study is qualitative, data was obtained through library research and involving in-depth interviews of two respondents. Data was analyzed using content analysis. The findings have found that, the method used to sustain the waqf funds in UCB is by transparent management of assets through entrepreneurship activities for optimum benefit. The entrepreneurship activities are in the livestock, agriculture and business sectors. Another program is the development of entrepreneurship center within its campus. Besides, the formulation of a teaching and learning curriculum that included entrepreneurship elements was also conducted to ensure that the students have basic entrepreneurial skills. This paper proves that waqf and entrepreneurship are inseparable. The synergies between waqf and entrepreneurship are important as an alternative to the sustainability of waqf itself. [ABSTRACT FROM AUTHOR]

Ṣukūk emerged in the last two decades as a noteworthy contender for conventional bonds. Their wider appeal for Muslim populations around the world led to more issuers preferring to issuing ̋ukūk over conventional bonds. This is the case for most countries in the Islamic World, but not Kuwait, despite it being a world-renowned pioneer and hub for innovation and creativity in Islamic Finance and Shariah-compliant capital markets. This study examines the legal and regulatory framework for ̋ukūk in the State of Kuwait after giving a brief history of its development. Through qualitative analysis of news sources, country reports, and academic papers, this study attempts to identify the major challenges and hurdles facing the development of ̋ukūk despite the illustrious track record of the Islamic Finance industry in Kuwait. As per the study, the most notable challenges and hurdles are in relation to the benchmark yield curve, public awareness, and listing of ̋ukūk. The study concludes by suggesting possible solutions which all require a higher level of coordination between government entities and relevant stakeholders. [ABSTRACT FROM AUTHOR]

With many university students receiving formal financial education, more individual have become significant understanding on their own money management. As a result, they able to successfully manage their own tuition fees, cost of living and entertainment without their parents' guidance. This paper explored financial understanding of undergraduates at Academy of Islamic Studies University of Malaya (APIUM). Specifically, this paper investigated their demographic profiles and its relationship with their understanding on zakāh, takaful and free-interest loans offered by Islamic financial institutions. In addition, this paper also investigated on their spending behaviour. Characteristics such as field of study, source of education funds, education financing and their spending priority were examined to determine the main drivers behind the receiving of zakāh, subscribing monthly takaful, engaging in interest-based loans as well as their spending behavior. We assumed that financial literacy defined by OECD has become our underlying framework for this paper. Findings indicated that undergraduates with full sponsored by their family have different view about receiving zakāh funds, subscribing takaful, engaging in free-interest loan, and spending on entertainment cost. It is expected that this study would be expanded to more undergraduates who come from rich family backgrounds. It is expected that this study may help university to develop appropriate program of financial education suitable for undergraduates of various demographic profiles including those who come from rich family. [ABSTRACT FROM AUTHOR]

Effective communication is essential for every leader. This is due to good communication can result in peace and harmony among followers or workers and is important for achieving objectives. Thus, this article focuses on effective leadership communication. A qualitative method was used whereby documents were examined for a clear understading of an Islamic form communication, the types of communication, and the principles and ethics behind said communication. Accordingly, this article will cover the definition and characteristics of effective communication from the Islamic perspective. Generally, this paper is different from previous articles in terms of its reliance on the thoughts of Imām al- Ghazalī regading the characterisctics of effective communication that should be practiced by leaders in the contemporary period. [ABSTRACT FROM AUTHOR]

This article discusses the concept of 'checks and balances' in accordance with Islam and its application in the Islamic Judicial System in Malaysia. As the main objective of establishing the court is to uphold justice between disputing parties, 'checks and balances' are perceived as a mechanism in assisting our Islamic judiciary towards achieve this objective. Despite the ambiguity in understanding this concept in Islam, it has been widely used in Western nations, whether in administration or law. Yet, this does not mean that Islam does not have a specific mechanism in forming or managing a government. Islam has actually practised this concept long prior, consistent with the contents of the al Qur'ān and Sunnah; especially in both administrative and judicial aspects. Thus, the objective of this paper is to study the concept of 'checks and balances' in Islam. For the purpose of this study, the researcher used a qualitative research methodology involving a content analysis study through primary and secondary sources including semi-structured interviews. The finding of this study discovers that the word 'Hudūd Allāh' is widely used in Islam rather than the 'checks and balances' term which was introduced by Western legal system. The principles contained in the 'Hudūd Allāh' cover both the external and internal aspects of each individual, which later produces the most trustworthy and fair creatures of Allah in every aspects of their lives. This would then be the differentiation between the 'Hudūd Allāh' and the concept of 'checks and balances', in which the 'checks and balances' concept only focuses on the external aspects of governance. [ABSTRACT FROM AUTHOR]

Claims for damages of road traffic accidents in Malaysia are usually made through procedures in court. This occurs when there is a dispute over the liability and quantum of damages that should be paid by the guilty party. In the absence of a dispute, an out-of-court settlement may be exercised. The court process however, should not necessarily be done in Islamic compensation system called diyah. Diyah allows both parties to settle down their claim of damages with the presence of 'aqilah. If the accused has committed negligence that causes injury or death to the victims, it is obligatory to pay a number of compensation to victim or their heirs. Therefore, the objective of this research is to examine the rights of the victims involved in road traffic accident both through the civil law system and the Islamic compensation system (diyah). An overview of road accident laws in Malaysia has been discussed in this paper including the Civil Law Act 1956 (Act 67), the Road Transport Act 1987 (Act 333), and the Insurance Act 1996 (Act 533). Rights and responsibilities arising from accidents also have been discussed. Using bibliographical studies, observation and semi structured interview as a methods of collecting data, the research finding indicates that victims are not being under a proper defence of their right. The victims have to go through the long process in order to get the quantum awarded by the court or insurance company. Hence, this research proposed compensation system based on diyah. Legal reform is necessary to address this issue. [ABSTRACT FROM AUTHOR]

Since 2005 and recent years, takaful product is getting attention and growing substantially due to people are vulnerable to health risk especially women. Irony, the offering product takaful for women can managing their risk in financing, critical illness and so on. This study used content analysis on six product disclosure sheet of takaful that offered by four takaful operators. In addition, the researcher also have collected data through interview with Shariah officers, product development officers and takaful agents to understand the whole structure of the product. This finding of this study shows that takaful product for women is in line with Maqāṣid al-Sharī‘ah. [ABSTRACT FROM AUTHOR]

Islamic microfinance has become an important part of the financial system, recognized locally and internationally, as a significant solution in addressing the problems of poverty. However, most of the financial institutions are reluctant to use the form of equity financing especially to micro entrepreneurs, because they have a negative perception of the entrepreneurs. They are often regarded as risk borrowers, having lack of experience and skills and therefore not being viable. However, the author believes that equity financing is an alternative for the entrepreneurs to overcome their financial problems as well as issues of management skills. Theoretical studies have been conducted to examine mushārakah mutanāqiṣah instrument and the results show that mushārakah mutanāqiṣah financing can be one of the most potential instrument for micro entrepreneurs. The main aspects to note are those of the partnership as well as the mechanism of the pricing of the unit and ijārah rental. Purchase of shares in units make this instrument more practical and flexible to implement. This paper will elaborate on mushārakah mutanāqiṣah contract generally and its application in Islamic microfinance through the mechanism of purchasing units. [ABSTRACT FROM AUTHOR]

This study focused on the factors leading to a happily married life. Three married couples who have been awarded mithali and mawaddah family were chosen as samples using purposive sampling method. In depth-structured interviews were conducted to investigate their experience of being happily married and what factors they think are important to be happily married until they are awarded mithali family (until they were given mithali family award). The interview data were then analyzed strictly according to the themes that have been determined along with the evidence from the interviews conducted. Thirteen categories that emerged after coding the data were religiosity, compromise and commitment, marital satisfaction, wise conflict resolution, good communication, presence of children in the marriage, economic status, positivity in the relationship, respect, trust, understanding, lovingness and no mistreatment involved in the relationship. This study has important implications for married couples, counsellors and those directly involved in drafting the Family Wellbeing Index at the Ministry of Women, Family and Community Development. [ABSTRACT FROM AUTHOR]

Urbanisation has created a disparity between the standard of living in urban and rural areas. Subsequently, more and more people are migrating from the rural areas to the urban areas due to the lure of wider economic opportunities and greater access to infrastructure and facilities. Unfortunately, massive urban migration gradually limited economic opportunities for migrants, and this has led to wide-spread urban poverty. This article will explain the phenomenon of urban poverty and discuss urban poverty eradication from an Islamic perspective. This study employs the qualitative approach by applying the inductive, deductive and comparative content analysis method where the primary data are derived from library research, as well as from previous studies. The study found that the authority and community both play an important role in addressing urban poverty. This can be addressed through several measures of poverty eradication implemented in Islam, which include correcting belief about the economy, ensuring a balance wealth distribution from the rich to the poor, and changing attitudes and motivation at the ground level. In this regard, the authority should focus on creating a balanced distribution of wealth, facilitating a strategic economic management plan, adopting priority-based economies, effective implementation of poverty eradication policies, adoption of growth strategies, improving basic facilities and focusing on institutional roles. [ABSTRACT FROM AUTHOR]

Studies relating to the weaknesses of the civil procedures in particular on the process of fasakh litigation are still relevant for review and debate. This is due to the fact that there have been complaints and reports lodged by the public over the delay in hearing of fasakh claims under provisions relating to civil procedures. Therefore, the case study was conducted to find out the extent of the issues as a result of the civil procedure in fasakh cases based on three methods of data collection namely observation, interviews and documentation. The results clearly showed that indeed there are factors in the delay of cases involving civil procedures. Whereby, the researcher suggests certain recommendations based on the data collected. [ABSTRACT FROM AUTHOR]

Malaysia is expected to reach an aged population by 2030. Currently, micro takaful under the "Perlindungan Tenang" initiative, does not promote the participation of the elderly in line with the increasing life expectancy of the country. This is mainly due to the link between the high risk of age-related-illness. For the microtakaful offering segment, takaful operators should not expect immediate profit. Therefore, the study was conducted to look at collaboration opportunities between takaful operators and the Department of Social Welfare (JKM) by offering microtakaful to senior citizens in the country. Befittingly this collaboration has allowed for the government department, JKM, to provide direct service to senior citizens. Thus, field studies were conducted with JKM, takaful operators and the Central Bank of Malaysia (BNM). Interviews with JKM involved a group of senior citizens, and also members of the productive welfare and a sample of the community. Interviews with takaful operators included AIA Public Takaful in the Product Marketing Department, Prudential BSN Takaful under microtakaful and CSR Department and IKHLAS Takaful in the Bancatakaful Department. Interviews with BNM were conducted with the Islamic Banking and Takaful Department. The offering of microtakaful to senior citizens living in institutions under the JKM and senior citizens receiving financial assistance ie "Bantuan Orang Tua (BOT)" is made possible through funds from zakat, waqf and CSR in the form of non-commercial microtakaful. Whereas senior citizens living in the community can be offered commercial microtakaful through community cooperation, Elderly Care Centres, both from NGOs and privately registered centres have been cooperating with JKM to describe the value and importance of increasing understanding as well awareness of microtakaful. At the same time, microtakaful schemes need to make product design improvements to be relevant and appropriate for senior citizens, especially in terms of target schemes and supply channels. [ABSTRACT FROM AUTHOR]

The concept of promise in Islamic banking contracts in Malaysia was introduced around in 2005. Its application is still a polemic among critics although the principle was recognized by Shariah Advisory Council of Bank Negara Malaysia (SAC BNM) in its 157th meeting on 31st March 2015. This polemic has an impact on the mechanism and validity of Islamic banking contracts such as Murabahah to Purchase Order (MPO), al-Ijarah Thumma al-bay' (AITAB) and Musharakah Mutanaqisah (MM) which make the contracts controversial. Using the data collected from library research and interviews, this article attempts to analyze the subject qualitatively in order to identify the challenges and obstacles faced by the industry in the application of such principle. The important finding from this study shows that the issue on the application of the principle resulted from the perceptions among the community and industrial players towards the resolutions by SAC BNM, the inability of the lawyers and consumers to fully understand the concept of promise, lack of courage among industrial players to innovate new products based on promise, the obstacles from shariah committee Islamic banking itself, and its application is limited to those who accept the binding promise. [ABSTRACT FROM AUTHOR]

Wilayah Persekutuan Islamic Religious Council (MAIWP) undertakes the development of waqf land through privatisation, funding from the government, or istibdal process. Development of waqf land through privatisation was undertaken on a piece of waqf land in Kuala Lumpur, owned by MAIWP, with land area of 1.2 acres. An istiṣnā' agreement was executed between MAIWP and Lembaga Tabung Haji (LTH) for the project. Building construction cost of RM151 million was funded by LTH and the construction was completed in 2011. This project is expected to give returns of RM56.60 million from a lease to MAIWP for 25 years. Ownership of the building will be transferred to MAIWP at the end of the lease period. Land development through privatisation is expected to solve the main issue of most waqf land could not be developed by State Islamic Religious Council (SIRC) institutions due to the absence or insufficiency of funds. Hence, the objective of this study is to examine in detail the development model of waqf land through privatisation regarding compliance with rules and regulations as well as recording and disclosure in the financial statements of SIRC. This study used the library research and field study methods. Data were obtained from semi-structured interviews with MAIWP officers who were involved in the development of waqf land. The findings of the study showed that the development of waqf land complied with rules and regulations related to the development of waqf land. Nevertheless, this study found several areas for improvement by MAIWP particularly in the aspects of asset reporting and waqf returns. The implication of this study may be used as a starting point by MAIWP in formulating a Waqf Act to strengthen waqf management in Wilayah Persekutuan in particular and Malaysia in general. Besides, the need for a Framework on Waqf Reporting is critical since the existing framework for financial reporting is more appropriate for commerical use. Several recommendations and policy implications have also been suggested in this study. [ABSTRACT FROM AUTHOR]

The article discusses the establishment of higher educational institution using waqf instrument. It suggests a model for the establishment to be applied in waqf-based higher education institutions in Malaysia based on the existing legislations and the contemporary needs. The model has used the research data collected from a selected international Waqf and Endowment Universities which had been carried out from 2012-2017. [ABSTRACT FROM AUTHOR]

The concept of khulṭah in the discussion of zakāh connotes a mixure of zakatable assets owned by several owners and calculated as a single entity. In the contemporary period, many zakatable assets are being kept in a common fund that fits the definition of khulṭah of zakāh, and is thus subject to the zakāh obligation. This includes cash deposited in accounts, such as the Tabung Haji fund; accounts in banks, such as savings, checking, and investments accounts; Employees Provident Fund (EPF); as well as corporations, etc.. However, looking at the current practices of zakāh calculation, it is evident that the khulṭah concept has been neglected. In fact, its practice and implementation among the zakāh collection bodies have not been standardized. Using the literature review methodology, this article aims to examine the views of Islamic jurists on the concept of khulṭah and its implementation and constraints that limit its implementation and any proposed resolutions, and how this concept can benefit the zakāh authorities. This research has found that although the concept of khulṭah in zakāh collection faces many challenges for implementation it can be optimized in expanding zakāh collection, thus empowering its role in fulfilling the needs of the Muslim society. [ABSTRACT FROM AUTHOR]

Islamic values are the performance and implemention of every command of Allah SWT, which covers all aspects of living and should be based on knowledge, comprehension, and practice. Islamic values are also an effort to improve the relationship between human beings and Allah SWT to gain happiness in here and hereafter. This study analyses and discusses the level of implementation of Islamic values among conflicting spouses together with the cause of its neglect and also looks at the relationship between the implementation of Islamic values and domestic conflicts. This study was performed through conducting structured and unstructured interviews on 10 conflicting spouses who are undergoing counselling at the Consultancy Unit, in the Family Law Division of Selangor Islamic Religious Department (JAIS). The findings show that belief and worship is not related directly to family conflicts. However, Islamic values are closely related to attitude because there are other factors that must be emphasised by spouses in preventing serious family conflict, which are forming positive attitudes on oneself and having knowledge in family affairs and practicing said knowledge so that family abuse and cruelty do not occur. Thus, Islamic values play an important role as an instrument that connects human beings with their Creator in asking for solutions to problems they are facing and presenting tranquillity in tense situations. [ABSTRACT FROM AUTHOR]

The purpose of this study is to estimate potential zakāh on business collection and to discover zakāh gap from public listed companies (PLCs) segment. This quantitative cross-sectional study examines the zakāh status of 817 Shariah compliant companies endorsed by Shariah Advisory Council of the Securities Commission (SC). Financial data is obtained through a census study from the latest annual report and another 705 annual reports were examined. This intensive study, based on the 30% largest shareholder report, reveals that 118 companies are considered ‘owned' by more than 30 percent of individuals who are Muslim. The total zakāh amount during the assessment of eligible companies was then used as the basis for determining ‘zakāh potential'. As a result, the total potential of zakāh on businesses from PLCs is RM290 million per year. Concerning zakat payment, only 15 companies have zakāh disclosure in their financial reports and their total zakāh paid is RM76.8 million. This study also reveals gap of RM200 million yearly with a rate of 74 percent. Based on the tax gap rate (i.e around 7 percent) the ‘zakāh gap' discovered is severe and the compliance rate among PLCs are still marginal. Thus, there is a great opportunity to further increase zakāh collection and strategic efforts need to be put in place by authorities and relevant parties in order to maximize zakāh collection in Malaysia. [ABSTRACT FROM AUTHOR]

The entrepreneurial spirit is universal and transcends racial, cultural, and geographical limitations. However, this spirit is qualified further when fostered by Muslim entrepreneurs. When a career is associated with Islam, behavior needs to be managed in a holistic manner according to Islamic guidelines. Generally, the Islamic perspective encourages entrepreneurship. The only difference is that the fundamentals the religion should serve as the cornerstone of all entrepreneurial activity. This article will explain the element of akhlāq (moral practice) as one of the main components in the development of the entrepreneur's personality through the appreciation of Islam as found in al-Qur'ān, aḥadith, and by scholars of Islam. [ABSTRACT FROM AUTHOR]