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Shariah compliance risk management in the provision of wakaf-zakat housings

The presence of risks in development of wakaf-zakat housings, as in other developments, are inevitable. The risks if it is not managed properly may cause loss and damages to properties. Consequently, a proper management of risks is crucial in order to mitigate risks. However, the management of...

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Main Authors: Puteri Nur Farah Naadia M.F.,, Khairuddin Abdul Rashid,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2021
Online Access:http://journalarticle.ukm.my/16937/1/IJIT-Vol-19-June-2021_11_102-109.pdf
http://journalarticle.ukm.my/16937/
http://www.ukm.my/ijit/volume-19-june-2021/
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spelling my-ukm.journal.169372021-06-30T02:21:20Z http://journalarticle.ukm.my/16937/ Shariah compliance risk management in the provision of wakaf-zakat housings Puteri Nur Farah Naadia M.F., Khairuddin Abdul Rashid, The presence of risks in development of wakaf-zakat housings, as in other developments, are inevitable. The risks if it is not managed properly may cause loss and damages to properties. Consequently, a proper management of risks is crucial in order to mitigate risks. However, the management of risk in the provision of wakaf-zakat housings, as stated in manual guidelines published by JAWHAR (2009; 2007) seems inadequate as it focuses only on the protection of wakaf and zakat properties. Due to the inadequacy, in particular to benefit the asnafi and needy, loss and damages occur upon occurrence of risks probably are due to syubhah methodology adopted in managing risks. Consequently, a study is conducted to review literature on the practice of conventional and Shariah compliance risk management leading to a synthesis framework that could then be recommended for adoption for Shariah compliance risk management in the provision of wakaf-zakat housings. The study is an extended research on the protection of wakaf-zakat properties for the needy and poor via takaful. The study combines review of literature and intensive discussions with experts specializing in the Shariah, wakaf and zakat, and practitioners i.e. developers and consultants involved in wakaf-zakat housings and their contents projects. Findings of the study suggest that: Shariah compliance risk management in the provision of wakaf-zakat housings are not being practiced; the practice lack comprehensiveness in terms of the management of risks in the provision of wakaf-zakat housings, and; the outcome of the study is a synthesis list comprising of processes and steps in Shariah compliance risk management in the provision of wakaf-zakat housings is produced. Penerbit Universiti Kebangsaan Malaysia 2021-06 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/16937/1/IJIT-Vol-19-June-2021_11_102-109.pdf Puteri Nur Farah Naadia M.F., and Khairuddin Abdul Rashid, (2021) Shariah compliance risk management in the provision of wakaf-zakat housings. International Journal of Islamic Thought ( IJIT ), 19 . pp. 102-109. ISSN 2232-1314 http://www.ukm.my/ijit/volume-19-june-2021/
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description The presence of risks in development of wakaf-zakat housings, as in other developments, are inevitable. The risks if it is not managed properly may cause loss and damages to properties. Consequently, a proper management of risks is crucial in order to mitigate risks. However, the management of risk in the provision of wakaf-zakat housings, as stated in manual guidelines published by JAWHAR (2009; 2007) seems inadequate as it focuses only on the protection of wakaf and zakat properties. Due to the inadequacy, in particular to benefit the asnafi and needy, loss and damages occur upon occurrence of risks probably are due to syubhah methodology adopted in managing risks. Consequently, a study is conducted to review literature on the practice of conventional and Shariah compliance risk management leading to a synthesis framework that could then be recommended for adoption for Shariah compliance risk management in the provision of wakaf-zakat housings. The study is an extended research on the protection of wakaf-zakat properties for the needy and poor via takaful. The study combines review of literature and intensive discussions with experts specializing in the Shariah, wakaf and zakat, and practitioners i.e. developers and consultants involved in wakaf-zakat housings and their contents projects. Findings of the study suggest that: Shariah compliance risk management in the provision of wakaf-zakat housings are not being practiced; the practice lack comprehensiveness in terms of the management of risks in the provision of wakaf-zakat housings, and; the outcome of the study is a synthesis list comprising of processes and steps in Shariah compliance risk management in the provision of wakaf-zakat housings is produced.
format Article
author Puteri Nur Farah Naadia M.F.,
Khairuddin Abdul Rashid,
spellingShingle Puteri Nur Farah Naadia M.F.,
Khairuddin Abdul Rashid,
Shariah compliance risk management in the provision of wakaf-zakat housings
author_facet Puteri Nur Farah Naadia M.F.,
Khairuddin Abdul Rashid,
author_sort Puteri Nur Farah Naadia M.F.,
title Shariah compliance risk management in the provision of wakaf-zakat housings
title_short Shariah compliance risk management in the provision of wakaf-zakat housings
title_full Shariah compliance risk management in the provision of wakaf-zakat housings
title_fullStr Shariah compliance risk management in the provision of wakaf-zakat housings
title_full_unstemmed Shariah compliance risk management in the provision of wakaf-zakat housings
title_sort shariah compliance risk management in the provision of wakaf-zakat housings
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2021
url http://journalarticle.ukm.my/16937/1/IJIT-Vol-19-June-2021_11_102-109.pdf
http://journalarticle.ukm.my/16937/
http://www.ukm.my/ijit/volume-19-june-2021/
_version_ 1703961611502354432
score 13.211869

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