—The institution of waqf
has played its role in poverty alleviation and socioeconomic development through history, especially in the Islamic history. Until today, this institution still plays an important role especially in Muslim countries. Still, there are many potential mechanisms in order to make it more effective to alleviate poverty. Cash waqf
is a trust fund est
ablished with money to support services for mankind’s benefits in the name of Allah. The gifted capital was “transferred” to borrowers for certain period, which was then spent for all sorts of pious and social purposes inclusive for the investment objectives. It is recognized that there is no ample study in the area of cash waqf
especially for managing the waqf
fund. Therefore, the
study for the management of cash waqf
fund is essential in order for th
e fund to be use efficie
ntly. The objective of this article is to examine relationship between level of income and appointment of agent in collecting waqf
fund. The methodology of this research is a q
uantitative research towards 231 respondents among Muslim public in Malaysia. The general finding of this article shows that, with proper contribution method and the appointment of Islamic waqf
bank an agent in collecting the cash waqf
there is a strong tendency that the Islamic waqf
bank’s operation will be run effectively.
Muhammad Ridhwan Ab. Aziz and Mohd Asyraf Yusof are with the Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM), Bandar Baru Nilai, 71800, Nilai, Negeri Sembilan, Malaysia (email: firstname.lastname@example.org).
Cite: Muhammad Ridhwan Ab. Aziz and Mohd Asyraf Yusof, "Examining the Relationship between Level of Income and Appointment of Agent in Collecting Waqf Fund," International Journal of Trade, Economics and Finance vol.5, no.2, pp. 167-169, 2014.