ENHANCING WAQF GOVERNANCE FOR SUSTAINABLE DEVELOPMENT: A CRITICAL REVIEW

Abstract

This research study aims to critically examine the governance of waqf, a significant aspect of Islamic social finance that has historically played a crucial role in advancing societal welfare and development. The study identifies several critical challenges in waqf governance, including the need for published documents and bibliometric analyses, ambiguity in waqf property information, non-uniform management practices, and quality issues in waqf reporting. It emphasises the significance of transparency, accountability, and standardised practices in managing waqf properties to maximise their positive impact on society. The methodology employed in this study involves a comprehensive review of existing literature on waqf governance challenges and improvements in Malaysia. The study highlights the need for rigorous empirical research to inform decision-making and policy formulation in waqf governance. Future research directions include investigating the intersection of waqf governance with sustainable development goals and exploring innovative approaches to enhance socio-economic outcomes through effective waqf governance practices. By proposing solutions to address these challenges and suggesting avenues for future research, the paper contributes to the ongoing discourse on optimising waqf governance for sustainable development and the well-being of communities.