Waqf funds for higher education in Malaysia and Bahrain: drawing lessons from the experience
Changes have been made to the concept of state-funded education that has been prevalent worldwide for millennia. Many unfavourable budget cuts, particularly during the economic downturn, created a challenging fiscal position for Higher Education Institutions (HEIs). As state financing declines, p...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sekolah Tinggi Agama Islam Negeri Majene
2023
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| Online Access: | http://irep.iium.edu.my/107912/7/107912_Waqf%20funds%20for%20higher%20education%20in%20Malaysia%20and%20Bahrain.pdf http://irep.iium.edu.my/107912/ https://www.jurnal.stainmajene.ac.id/index.php/milkiyah/article/view/659 https://doi.org/10.46870/milkiyah.v2i2.659 |
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| Institution: | Universiti Islam Antarabangsa Malaysia |
| Language: | English |
| Summary: | Changes have been made to the concept of state-funded education that has been prevalent
worldwide for millennia. Many unfavourable budget cuts, particularly during the economic
downturn, created a challenging fiscal position for Higher Education Institutions (HEIs). As state
financing declines, public institutions are under pressure to find new and creative methods to
make ends meet. Public HEIs in Malaysia are obligated to gain their revenue due to the
country's restrictive budget policies. Establishing waqf or an endowment fund at the higher
education/university is viewed as an innovative step toward financial sustainability. This
research compares and contrasts the waqf funding for higher education in Malaysia and the
Kingdom of Bahrain and draws lessons for the latter. To accomplish this, the qualitative method
is employed. The paper finds that several universities in Malaysia have initiated waqf centres as
per the strategic plan of the Ministry of Higher Education. They have implemented a
sophisticated online procedure and cutting-edge technologies for collecting monetary
contributions via cash waqf and other means to achieve this goal. In contrast, the waqf fund
has been used in the Kingdom of Bahrain for either elementary school education or specialized
study. The higher education in the Kingdom of Bahrain lack supporting their students and
faculty members through this fund. Based on the findings of this research, it is recommended
that Bahrain's universities follow the lead of waqf-based universities to achieve autonomy. |
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