Waqf-based Qardhul Hassan financ A preliminary study of QAFSCALE measuring waqf-based Qardhul Hassan financing receptiveness

• Main Author: Hanudin Amin
• Format: Article
• Language: English; English
• Published: Penerbit UIS 2022
• Subjects: HG1-9999 Finance
• Online Access: https://eprints.ums.edu.my/id/eprint/36790/1/ABSTRACT.pdf; https://eprints.ums.edu.my/id/eprint/36790/2/FULLTEXT.pdf; https://eprints.ums.edu.my/id/eprint/36790/; https://doi.org/10.53840/ejpi.v9i2.90
• Institution: Universiti Malaysia Sabah

Understanding the elements favoured by waqif (donor) in engaging in waqf-based qardhul hassan financing has been a major topic of Islamic social finance, should and if it is implemented to better assist ummah amid financial and health crises, primarily in Malaysia. Previous studies, on the other hand, represented a narrow theoretical viewpoint and disregarded the significance of maqasid al-Shariah and its relationship to customers. Thus, using an Attia's maqasid method (Attia, 2010), this research constructs QAFSCALE to quantify waqif preference of waqf-based qardhul hassan financing in Malaysia. A total of 292 prospective donors responded in Kota Kinabalu, Sabah, Malaysia analysed using Statistical Package of Social Science (SPSS) 21. The results show that the family factor, consumer factor and the ummah factor were found important as constructs representing the QAFSCALE. Interestingly, this study introduces new QAFSCALE that measures waqif preference to donate in waqf-based qardhul hassan financing. According to the results, managers might promote maqasid al-Shariah when it is in place and implement incentive programmes to breed product engagement.