Comparative Study on Institutional Mutawalli Practices in Utilising Waqf Property

Waqf is one of the benevolence charities that are highly encourage in Islam. Through the donated waqf property, the benefit will provide to all of the beneficiaries directly or indirectly. Thus, all waqf property should be managed and administered efficiently. A good and effective institutional mutawalli (IM) is capable not only to develop but also to utilise the property. However, most IM facing challenges in their governance practices, hence these properties are not being utilised to achieve their full impact to other beneficiaries. Therefore, the aim of this paper is to compare the practice of waqf property utilisation by IM in Malaysia. A qualitative method applied in this study where formal and semi-structured interview conducted where the participants are those in leadership positions such as CEO and the top management of the four (4) selected IMs. The finding from this study discussed in detail the practice and experience of the waqf institution which are IMs in utilisation of waqf properties. This study identifies the crucial characteristic in the waqf property which needs to possess in utilizing and governing the waqf property. The finding also could benefit the similar and different IM and policy makers to identify the important interdependent characteristics to help them attain growth performance