A conceptual model for inter-state corporate waqf financing for higher learning

Ahmad Faizul Shamsudin, Jamil Hashim, Wan Sabri Wan Yusof, Anas Yusof, Saadiah Mohamad, Afrah Munirah Yusof, Nur Hidayah Zainudin, Hanita Hashim, Izham Zainal Abidin

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3 Citations (Scopus)

Abstract

Higher education is over dependent on public funds, cash endowments and business contributions which are non-perpetual and may only concern the current and immediate future generations.A resource-based corporate waqf to develop and sustain the higher education sectorwill be explored in this paper.Theresourcebased (from output of harnessing water, energy, land banks and forests) corporate waqf financing are by itself inherently perpetual and sustainable. However, the conventionaltheory of perpetual resource flows across state's borders may constrain the inter-state flow of waqf funds. An Islamic economic theoretical framework of resource-based corporate waqf financing is explored in this study. The optimization of costeffective allocation of burdens of responsibility between many sources (power generators) and receptors (higher education institutions, students) of corporate waqf is modelled. A literature review of Islamic approachesreveal for example, the Islamic principles of Al-Hisbah (administration of public interest) that can minimize the burdens to be shared by the inter-state sourcesand receptors in the interstate model.

Original languageEnglish
Pages (from-to)51-58
Number of pages8
JournalGlobal Journal Al-Thaqafah
Volume5
Issue number1
DOIs
Publication statusPublished - 01 Jan 2015

All Science Journal Classification (ASJC) codes

  • Cultural Studies
  • Arts and Humanities(all)

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    Shamsudin, A. F., Hashim, J., Wan Yusof, W. S., Yusof, A., Mohamad, S., Yusof, A. M., Zainudin, N. H., Hashim, H., & Abidin, I. Z. (2015). A conceptual model for inter-state corporate waqf financing for higher learning. Global Journal Al-Thaqafah, 5(1), 51-58. https://doi.org/10.7187/GJAT782015.05.01