FACTORS THAT DETERMINE DONORS INTENTION TO ENDOW CASH WAQF FOR MICROENTERPRISES IN MALAYSIA

Year 2019, Volume: 9 Issue: 2, 449 - 471, 31.12.2019

Dzuljastri Abdul Razak , Fodol Mohamed Zakaria , Ali Ahmad Burhan Ahmed Abdilahi Jama

https://doi.org/10.31679/adamakademi.521253

Abstract

In the modern era, the waqf concept has become more sophisticated and comprehensive and through it, many financial products and social programs have been developed, for instance, cash waqf and some security papers such as Shares-Waqf, Sukuk-Waqf, etc. Therefore, cash waqf can also be used in microenterprises to efficiently channel funds (interest free-funds) to microenterprises to alleviate poverty and decrease unemployment. Recently, several products for cash waqf in microenterprises have been established, but they could not reach their targets since they need a significant contribution from Muslims in the society. Thus, lacuna exists to assess the intention of donners towards cash waqf for microenterprises empirically. Therefore, this paper aims to determine the factors influencing the intention to endow cash waqf for microenterprises based on four variables namely, the concept of cash waqf, trust, religiosity motivation, and social culture.

The survey method was carried out on 200 respondents in Kuala Lumpur, Malaysia. Factor analysis and multiple regression were used to estimate the relationship between variables. The results indicated that the concept of cash waqf, trust, and social culture have a significant relationship with the intention to endow CWME. Hence, practitioners can emphasize on the three factors in their marketing efforts to promote CWME. Academicians may also benefit by conducting more research in this area of knowledge.

Keywords

Cash waqf, Microenterprises, Trust, Religiosity Motivation, Social Culture

MALEZYA’DAKİ MİKRO ŞİRKETLERİN PARA VAKFINA BAĞIŞTA BULUNMA NİYETİNİ ETKİLEYEN FAKTÖRLER

Abstract

Modern dönemde, vakıf kavramı daha sofistike ve kapsamlı hale gelmiştir. Bu sayede birçok finansal ürün ve sosyal programlar geliştirilmiştir. Bunlara para vakfı, hisse senetleri ve Sukuk-vakıf gibi bazı menkul. kıymetler örnek olarak verilebilir. Bu nedenle, para vakfı aynı zamanda mikro girişimlerdeki yoksulluğu ve işsizliği azaltmak ve fonları (faizsiz) verimli bir şekilde kullanmak için de kullanılabilir. Son zamanlarda, mikro-şirketlerde para vakfı için birçok ürün uygulamaya konulmuştur Ancak bu uygulamalar Malezya toplumunda Müslümanlardan önemli ölçüde desteğe ihtiyaç duyulduğu ve bu destek kısıtlı kaldığı için hedeflerine ulaşamadılar. Bu nedenle, donörlerin (bağışçıların) mikro-şirketlerin para vakıflarına yönelik niyetlerini ampirik olarak değerlendirmek amacıyla ortaya çıkan bir eksiklik vardır. Dolayısıyla, bu çalışma, mikro-şirketlerin para vakfına bağışta bulunma niyetini etkileyen faktörleri belirlemeyi amaçlamaktadır. Bu faktörler para vakfı kavramı, güven, dini motivasyon ve sosyal kültürdür.

Çalışmanın metodu, Malezya’nın başkenti olan Kuala Lumpur’daki 200 kişinin verdiği cevaplar üzerinden ile yürütülmüştür. Faktör analizi ve çoklu regresyon, değişkenler arasındaki ilişkiyi tahmin etmek için kullanılmıştır. Sonuç olarak denilebilir ki, para vakfı kavramının, güven ve sosyal kültürün mikro-şirketlerin para vakfına bağışta bulunma niyetiyle önemli bir ilişkisi vardır. Buna binaen, uygulayıcıların mikro-şirketlerinin para vakfının bilinirliğini sağlamak için yaptıkları tanıtım çalışmalarında üç faktörü vurgulayabilirler. Aynı şekilde akademisyenler ve araştırmacılar da bu çerçevede daha fazla araştırma yaparak fayda sağlayabilirler.

Keywords

Cash-Waqf, Microenterprises, Trust, Religiosity Motivation

References

• Abdul-Jabbar, I. (2007). The Legislative Purposes of Islamic Endowments. Jordan.
• Abdullah, M. (2018). Waqf, Sustainable Development Goals (SDGs) and maqasid al-shariah. International Journal of Social Economics, 45(1), 158-172, https://doi.org/10.1108/IJSE-10-2016-0295.
• Adeyemi, A. A. & Ismail, N. A. (2016). An Empirical Investigation of the Determinants of Cash Waqf Awareness in Malaysia. Intellectual DIscourse, 4878, 501–520.
• Ahmed, H. (2002). Financing Microenterprises : An Analytical Study of Islamic Microfinance Institutions. Islamic Economic Studies, 9(2), 27–64.
• Bulut, M. & Korkut, C. (2016). A Comparison Between Ottoman Cash Waqfs (CWs) and Modern Interest-Free Financial Institutions. Vakıflar Dergisi, 46, 23-45.
• Dahlia, I., & Haslindar, I. (2013). Revival of Waqf Properties in Malaysia. The 5th Islamic Economics System Conference (IECONS 2013).
• Gounaris, S. P. (2005). Trust and commitment influences on customer retention: Insights from business-to-business services. Journal of Business Research, 58(2 SPEC.ISS.), 126–140. https://doi.org/10.1016/S0148-2963(03)00122-X
• Ismail Abdel Mohsin, M. (2013). Financing through cash-waqf: a revitalization to finance different needs. International Journal of Islamic and Middle Eastern Finance and Management, 6(4), 304–321. https://doi.org/10.1108/IMEFM-08-2013-0094
• Joseph F., H. J., Black, W. C., Babin, B. J., & Anderson, R. E. (2009). Joseph Hair Multivariate Data Analysis 7th Edition.
• Kahf, M. (2016). Waqf: A Quick Overview. http://www.iefpedia.com/english/wp-content/uploads/2009/11/Waqf-A-Quick-Overview.pdf
• Nurdeng Deuraseh. (2012). New Essential Values of Daruriyyah(Necessities) of The Objectives of Islamic Law (Maqasid Al-Shariah) (Keperluan Nilai Baharu Dalam Maqasid Shari ` ah ( Objektif Undang-Undang Islam )). Jurnal Hadhari, 4(2), 107–116.
• Obaidullah Mohammed. (2008). Introduction to Islamic Microfinance. In SSRN. https://doi.org/10.2139/ssrn.2495210
• Osman, A. F., Htay, S. N. N., & Muhammad, M. O. (2012). Summary for Policymakers. In Climate Change 2013 - The Physical Science Basis (pp. 1–30). https://doi.org/10.1017/CBO9781107415324.004
• Pitchay, A. A., Meera, A. K. M., & Saleem, M. Y. (2015). Factors influencing the behavioral intentions of muslim employees to contribute to cash-waqf through salary deductions. Journal of King Abdulaziz University, Islamic Economics, 28(1), 63–100. https://doi.org/10.4197/Islec.28-1.3
• Rahim, A., & Rahman, A. (2007). Islamic Microfinance: A Missing Component in Islamic Banking. Kyoto University Research Information Repository.
• Ridhwan, M., Aziz, A., & Ahmad, N. (2015). Identifying the potential of continuity in cash waqf contribution: A descriptive analysis. Platform.Almanhal.Com. Retrieved from https://platform.almanhal.com/GoogleScholar/Details/?ID=2-92928
• Roshayani, A., Norzaihan, M. Z., Sharina, T. U., & Ahmed, C. (2018). Modelling Maqasid Waqf Performance Measures in Waqf Institutions. Global Journal Al Thaqafah, 8(1), 157–169. https://doi.org/10.7187/gjatsi2018-11
• Sakti, M. R. P., Bin Mohd Thas Thaker, H., Qoyum, A., & Qizam, I. (2016). Determinants of cash Waqf contribution in Klang Valley and Selangor: a SEM approach. Journal of Islamic Monetary Economics and Finance, 2(1), 111–144. https://doi.org/10.21098/jimf.v2i1.593
• Sekaran, U. (2003). Research methods for business (4th edition). In New York, USA: John Wiley & Sons (Vol. 65). https://doi.org/10.1017/CBO9781107415324.004
• Shukor, S. A., Anwar, I. F., Aziz, S. A., & Sabri, H. (2017). Muslim attitude towards participation in cash Waqf: Antecedents and consequences. International Journal of Business and Society, 18(S1), 193–204.
• Sudin, H., Norafifah, A., & Planisek, S. L. (1994). Patronage Factors of Muslim and Customers. International Journal of Bank Marketing, 12(1), 32–40.
• Wei, J. (2010). An Empirical Analysis of New Zealand Bank Customers’ Satisfaction. Lincoln University Master Thesis.
• Worthington, E. L., Wade, N. G., Hight, T. L., Ripley, J. S., McCullough, M. E., Berry, J. W., O’Connor, L. (2003). The Religious Commitment Inventory-10: Development, refinement, and validation of a brief scale for research and counseling. Journal of Counseling Psychology, 50(1), 84–96. https://doi.org/10.1037/0022-0167.50.1.84