Journal of Contemporary Islamic Law
No eISSN: 0127-788X2020 5(1)
15 JUNE 2020
Pengurusan Pembangunan Portfolio Aset Wakaf: Keterdedahan Risiko dan Pengurusannya
The Management of Waqf Asset Portfolio Management: Exposure of Risks and Its Management
Wan Mohd Al Faizee Wan Ab Rahaman, faizee_rahaman@oum.edu.my
Cluster Education and Science Social, Open University Malaysia.
Pelajar Siswazah, Institut Islam Hadhari, Universiti Kebangsaan Malaysia.
Salmy Edawati Yaacob, salmy@ukm.edu.my
Research Centre for Sharia, Faculty of Islamic Studies, Universiti Kebangsaan Malaysia.
Institut Islam Hadhari, Universiti Kebangsaan Malaysia
Mohamad Sabri Harun, sabri@ukm.edu.my
Pusat Citra, Universiti Kebangsaan Malaysia.
Institut Islam Hadhari, Universiti Kebangsaan Malaysia.
Received: 30 March 2020 | Accepted: 08 June 2020 | Published: 15 June 2020
2020, Vol. 5(1), pp. 26-36. | PDF
Pengurusan pembangunan portfolio aset wakaf berhadapan dengan isu kekangan dana untuk membangunkan aset tidak alih, membentuk aset baharu serta porfolio aset wakaf yang kurang dinamik. Walaupun terdapat beberapa cadangan pendekatan yang telah diketengahkan oleh pengkaji lepas, ianya belum dilaksanakan sepenuhnya. Perhatian turut diberikan terhadap isu-isu pengoperasian, kewangan, undang-undang, reputasi dan pematuhan yang menjadi perhatian dalam kalangan pengkaji. Aktiviti-aktiviti pembangunan dalam sektor ekonomi dan kewangan sering mempertimbangkan kedudukan risiko dan memerlukan penganalisisan bagi menentukan pendekatan pengurusan risiko. Justeru artikel konseptual ini bakal menganalisis secara komprehensif terhadap isuisu dalam aktiviti pembangunan wakaf melalui kajian lepas bagi mengenal pasti risiko-risiko yang wujud seterusnya memberikan idea pendekatan pengurusan risiko yang bersesuaian dalam konteks wakaf. Reka bentuk kajian adalah kajian kualitatif dengan menggunakan analisis kandungan. Dapatan kajian ini telah mengenal pasti tadbir urus dan pengoperasian merupakan bahagian utama yang telah terdedah kepada risiko dan telah menyebabkan wujudnya risiko-risiko yang lain. Selain itu, analisis keterdedahan risiko turut mengenal pasti pendekatan yang lebih holistik dan moden kerana hubung kait secara menyeluruh di antara risiko-risiko yang terdedah seterusnya mengukuhkan pembangunan portfolio aset wakaf.
Kata kunci: institusi kewangan Islam; pengurusan risiko; tadbir urus; wakaf korporat; organisasi tidak bermatlamatkan keuntungan
The management of the development of waqf asset portfolio faces the issue of funding constraints to develop immovable assets, new asset formation and less dynamic portfolio of waqf assets. Although there are several proposed approaches have been highlighted by the previous researchers, it has not been fully implemented yet. The researchers concerned are within the issues of operation, finance, law, reputation and compliance. Development activities in economic and financial sectors often consider risk position and an analysis is required to determine the risk management approaches. Therefore, this conceptual article will comprehensively analyse issues from the previous studies in the activities of waqf development in order to identify the risks involved and provide some ideas for the appropriate risk management approaches in the context of waqf. This study used qualitative content analysis approach. Based on the findings, this study identified that governance and operational are key areas that have been exposed to risks and have led to other risks. In addition, risk exposure analysis also identifies a more holistic and modern approach as the broader links between exposed risks further strengthen the development of the portfolio of waqf assets.
Keywords: Islamic finance institution; risk management; governance; corporate waqf; Non-Profit Organization
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