ROSNIA MASRUKI - Academia.edu (original) (raw)

Papers by ROSNIA MASRUKI

Social Science Research Network, 2020

This paper aims to measure the financial performance and sustainability in Malaysian waqf private... more This paper aims to measure the financial performance and sustainability in Malaysian waqf private entity and corporations. Examining its performance and sustainability could be useful to assess waqf perpetual existence. Besides that, the waqf private entity and corporations frequently compare actual performance with standards or expectations to enhance the organizations’ achievements. Thus, by using ratio analysis, this study examines five years (2014-2018) annual reports of waqf private entity administered by Pusat Wakaf Majlis Agama Islam Wilayah Persekutuan Sdn. Bhd (PWMSB) and two waqf corporations Pusat Wakaf Selangor (PWS) and Wakaf An-Nur Corporation (WANCorp). The results indicate that only one waqf corporation was financially performed and sustainable in all seven components. The findings provide useful insights into the financial performance and sustainability of waqf private entity and corporations and highlight the need for policy makers in Malaysia and other Muslim countries to give due attention to the holistic accountability of waqf institutions to ensure waqf’s systematic revival. It is hoped that the results and the recommendations of the study would enable the financial reporting and accountability of such institutions at a higher level

JMIFR, Dec 1, 2018

This paper aims at exploring the impact of Islamic human resource (HR) practices on organizationa... more This paper aims at exploring the impact of Islamic human resource (HR) practices on organizational performance though organizational commitment. Data were collected from randomly selected 170 branch managers of six Islamic Banks listed on Dhaka Stock Exchange of Bangladesh. After collecting data, descriptive analysis and structural equation model were done to examine reliability and validity of the model. By analysis, the study finds that Islamic HR practices have more significant impact on organizational performance though organizational commitment rather than the direct effect of Islamic HR practices to organizational performance. The findings of the study advocate that Islamic banks should emphasize more on Islamic HR practices and organizational commitment to uphold their organizational performance.

Journal of Financial Reporting and Accounting, Apr 12, 2022

Purpose This study aims to explain the justification behind the current weak waqf reporting pract... more Purpose This study aims to explain the justification behind the current weak waqf reporting practices in waqf institutions in Malaysia and also investigates the factors affecting the good waqf reporting practices. Design/methodology/approach A series of interviews with four waqf officers who are involved with waqf reporting process from four different waqf institutions in Malaysia were conducted. Findings The findings show a number of reasons for the current weak waqf reporting practices including the absence of standardised waqf reporting standards, no reporting or disclosure awareness by the waqf management, limited reporting channels from the state authorities to the national authorities, diversification in the governance structure and reluctance of waqf administration to disclose waqf reporting. The findings also identified several factors contributing to good waqf reporting practices. This includes leadership, good cultural setting within the institution, political will as a push factor, limited qualified personnel as well as sustainability issues and finally, the visibility of the waqf report itself. Practical implications The study findings and recommendations are useful for the State Islamic Religious Councils and waqf institutions in Malaysia to enhance the waqf reporting practices in Malaysia. Originality/value This study is among the few studies that identify the reasons and factors affecting the good waqf reporting practices in Malaysia.

International Journal of Health Sciences (IJHS), Jul 31, 2022

Malaysia is currently seeing significant environmental pollution caused by manufacturing and expo... more Malaysia is currently seeing significant environmental pollution caused by manufacturing and export activities and heavily affecting the economy, society, and environment. This issue calls for investigation on how environmental sustainability, through technological innovation, can be integrated into current production operations to create a closed-loop system, thereby enhancing social performance. Green supply chain management (GSCM) is gaining attention because of increasing environmental deterioration, such as overflowing landfills, depletion of raw materials, and pollution in general. The purpose of this study is to examine the mediating role of technological innovation on the relationship between GSCM practices and social performance in 258 manufacturing firms in Malaysia certified with ISO 14001. Survey data were analysed using partial least squares structural equation modelling (PLS-SEM). The results revealed that GSCM practices had a significant and positive effect on technological innovation and social performance. Moreover, technological innovation had a positive effect on social performance. Technological innovation also mediated between GSCM and social 6359 performance. Therefore, the present paper confirms the positive effect of GSCM on the technological innovation of manufacturing firms, which in turn improves their social performance. The findings may help manufacturing firms to better understand the significant role of technological innovation in improving their GSCM practices and social performance.

International Journal of Health Sciences (IJHS), Jul 31, 2022

Green supply chain management (GSCM) practices are cross-organizational and closed-loop. They aim... more Green supply chain management (GSCM) practices are cross-organizational and closed-loop. They aim to reduce the ecological impact of the firm's activity without sacrificing quality, cost, reliability, performance, or energy utilisation efficiency. This study presents empirical evidence to encourage firms to implement GSCM practices, which may enhance their competitive advantages. This study attempts to contribute to the growing research on GSCM practices-namely internal environmental management, green purchasing, eco-design and packaging, investment recovery, and cooperation with customers-and their effects on competitive advantages using a sample of 258 ISO 14001-certified manufacturing firms in Malaysia. A partial least squares structural equation modelling (PLS-SEM) analysis showed the direct effects of green purchasing, eco-design and packaging, investment recovery, and cooperation with customers directly on competitive advantages. However, internal environmental management did not relate to competitive advantages. Suggestions for future research are proposed. The study confirms the positive effects of GSCM practices on the 8802 competitive advantages of firms in the Malaysian manufacturing industry.

MANAGEMENT & ACCOUNTING REVIEW, Apr 30, 2018

This study aims to develop an Accountability Disclosure Index (ADI) for Malaysian State Islamic R... more This study aims to develop an Accountability Disclosure Index (ADI) for Malaysian State Islamic Religious Councils (SIRC), concerning both quantity and quality. In this case, the quality of disclosure items was developed based on the qualitative characteristics, which rely on the International Financial Reporting Standards (IFRS) conceptual framework; namely, relevance, faithful representation, understandability, comparability and timeliness. Each characteristic was scored based on the 'benchmark' score, ranging from poor (1) to excellent (5). However, some of the characteristics have been modified to contextualize the SIRC study setting. Both quantity and quality of disclosure items index might contribute to a methodology for analysing and evaluating annual reports. Results show fifty-seven items of disclosure information, which were regarded by stakeholders relevant to be disclosed by the SIRC. Indeed, all these disclosure items should be disclosed in the SIRC annual reports, so as to meet the expectations of a wide range of stakeholders. With regard to the quality of disclosure, two different sets of qualitative characteristics for non-financial and financial statement disclosure were designed. All five qualitative characteristics were adapted to measure the quality of financial disclosure, whereas for non-financial disclosure, 'timeliness' was dropped due to the voluntarily nature of non-financial disclosure.

Addin, Jun 19, 2021

This study aims to analyse the current practices of disclosure of financial and non-financial rep... more This study aims to analyse the current practices of disclosure of financial and non-financial reports of waqf institutions in Indonesia; to identify the performance indicators concerning social economic and governance impact of waqf; to suggest the best reporting framework for waqf institutions in Indonesia. A qualitative method was employed to measure the content analysis of annual report. Data are collected by downloading annual reports ADDIN https://journal.iainkudus.ac.id/index.php/Addin

Studies in systems, decision and control, 2023

International Journal of Education, Psychology and Counseling

Person with Disabilities (PWD) is an individual that suffers a long-term physical, mental, intell... more Person with Disabilities (PWD) is an individual that suffers a long-term physical, mental, intellectual, or sensory impairments, preventing one from full and effective participation in society when faced with challenges. The challenges and pressures as a disabled person are very high especially for the individual that was born normal. The relation of PWD with hardship and poverty is very close because of the inability to manage oneself, run a business or find a job to generate an income. The tenacity and strength to rise again by an individual who has faced the misfortune or difficulty shows the characteristics of a person who has a high resilience. The Resilience Model is applied in this study as a guideline to enhance the resilience among PWD’s entrepreneurs. The findings of this study focus on the external protective factors (social support, psychological intervention, public facility and source of inspiration) and the internal protective factors (religion, learning motivation, a...

The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries

The purpose of this study is to investigate the current quality waqf reporting practices by waqf ... more The purpose of this study is to investigate the current quality waqf reporting practices by waqf institutions in Malaysia. Five factors that influence quality waqf reporting practices namely relevance, faithful representation, understandability, comparability and timeliness were studied. Twenty items were used to measure the current level of quality waqf reporting practices in all 14 waqf institutions in Malaysia. Results show the current quality waqf reporting practices by waqf institutions in Malaysia are at a moderate level as it only scored 40.29%. Among the five factors, timeliness scored the highest with 54.29% while the lowest score is comparability at 27.5%. Among the 14 waqf institutions, Perbadanan Wakaf Malaysia (PWS) achieved the highest scorewith 82%.On the other hand, there are eight (8) waqf institutions that only scored 20% (all 20 items are scored with one (1) as the lowest score value). This research provides an important extension on previous knowledge and relevant literature of quality waqf reporting practices by waqf institutions in Malaysia.Moreover, this research focuses on the key dimensions of quality waqf reporting practices reported in the literature. This research helps especially the management of waqf institutions to measure their current disclosure level to improve quality waqf reporting practices.

Awqaf-led Islamic Social Finance

The absence of the bottom line in the not-for-profit organisations, including waqf institution, r... more The absence of the bottom line in the not-for-profit organisations, including waqf institution, restrains the rendering of accounts. Therefore, the accountability of such faith-based institution is crucial towards achieving their outcome and socio-economic impact. Waqf institutions are established for social well-being; thus their outcome and impact on social benefits are essential, in addition to governance aspects. This is also in line with the National Blue Ocean Strategy (NBOS) and the Outcome-Based Budgeting (OBB) in the Malaysian public sector that has been announced, which concerns on the impact of programs and activities conducted, rather than focused on expenses and outputs. Indeed, this chapter aims to investigate disclosure practices for waqf, concerning their socio-economic impact. In order to achieve the stated research objective, case study approach is adopted through focus group discussion, by interviewing waqf accountants and managers to understand on waqf socio-economic impact. The findings indicate that the current waqf socio-economic impact disclosed by selected waqf institution is still in moderate level. Several recommendations are also provided in order to enhance accountability and promote transparency towards sustainability of waqf institutions in Malaysia.

Journal of Financial Reporting and Accounting

Purpose This study aims to explain the justification behind the current weak waqf reporting pract... more Purpose This study aims to explain the justification behind the current weak waqf reporting practices in waqf institutions in Malaysia and also investigates the factors affecting the good waqf reporting practices. Design/methodology/approach A series of interviews with four waqf officers who are involved with waqf reporting process from four different waqf institutions in Malaysia were conducted. Findings The findings show a number of reasons for the current weak waqf reporting practices including the absence of standardised waqf reporting standards, no reporting or disclosure awareness by the waqf management, limited reporting channels from the state authorities to the national authorities, diversification in the governance structure and reluctance of waqf administration to disclose waqf reporting. The findings also identified several factors contributing to good waqf reporting practices. This includes leadership, good cultural setting within the institution, political will as a pu...

Handbook of Research on Theory and Practice of Global Islamic Finance, 2020

This chapter examines the relationship between corporate governance practices and firm performanc... more This chapter examines the relationship between corporate governance practices and firm performance. The characteristics of the board of Shari'ah-compliant companies in consumer products counter of Bursa Malaysia were examined against the firm's performance using data from 77 companies from 2014 to 2016. Based on the result of multiple regression; board size, Muslim chairman, and Muslim director have a weak positive correlation with the performance of the firms. However, directors with Shari'ah background seem to have a negative correlation with the performance of the firms. The findings of the chapter would be very useful to the regulators to improve the Malaysian Code of Corporate Governance (MCCG). The findings also help to fill the gap on scarce literature that study the relationship between the corporate governance practices involving Muslim characteristics and performance.

Asia Proceedings of Social Sciences, 2020

This paper aims to measure the financial performance and sustainability in Malaysian waqf private... more This paper aims to measure the financial performance and sustainability in Malaysian waqf private entity and corporations. Examining its performance and sustainability could be useful to assess waqf perpetual existence. Besides that, the waqf private entity and corporations frequently compare actual performance with standards or expectations to enhance the organizations’ achievements. Thus, by using ratio analysis, this study examines five years (2014-2018) annual reports of waqf private entity administered by Pusat Wakaf Majlis Agama Islam Wilayah Persekutuan Sdn. Bhd (PWMSB) and two waqf corporations Pusat Wakaf Selangor (PWS) and Wakaf An-Nur Corporation (WANCorp). The results indicate that only one waqf corporation was financially performed and sustainable in all seven components. The findings provide useful insights into the financial performance and sustainability of waqf private entity and corporations and highlight the need for policy makers in Malaysia and other Muslim coun...

International Journal of Nusantara Islam, 2019

It is undeniable fact that waqf becomes as one of tools used in order to alleviate inequality amo... more It is undeniable fact that waqf becomes as one of tools used in order to alleviate inequality among people especially Muslim community. Basically, waqf fund is raised from the public and managed by mutawalli under waqf institution. As the intermediate party between waqif and beneficiaries, waqf institution is accountable for the management of waqf funds and need to disclose sufficient information pertaining to waqf fund itself. Good disclosure practices by waqf institution should cover both financial and non-financial information for all related waqf activities, programs and projects conducted. This includes such as corporate information, strategic information, financial performance information, financial statement information and non-financial performance information. To examine such disclosure practices, intensive content analysis was employed on waqf reporting information which is waqf annual report from three selected awqaf institutions namely, Perbadanan Wakaf Selangor (PWS), P...

ADDIN

This study aims to analyse the current practices of disclosure of financial and non-financial rep... more This study aims to analyse the current practices of disclosure of financial and non-financial reports of waqf institutions in Indonesia; to identify the performance indicators concerning social economic and governance impact of waqf; to suggest the best reporting framework for waqf institutions in Indonesia. A qualitative method was employed to measure the content analysis of annual report. Data are collected by downloading annual reports of waqf institutions from their website. Twenty waqf boards of 201 registered waqf institutions as the sample of participants. The disclosure of performance reports were measured by counting 57 disclosure items. The results indicate that waqf boards in Indonesia do not have a guidance or list for reporting their activities; methods on how to assess waqf board performance and the impact of waqf on social-economic and governance. They did not comply with 57 disclosure items, and none of waqf board reported the impact of waqf on social-economic and le...

IPN Journal of Research and Practice in Public Sector Accounting and Management

Tujuan: Kajian ini bertujuan untuk melihat sejauh mana penggunaan maklumat perakaunan akruan dala... more Tujuan: Kajian ini bertujuan untuk melihat sejauh mana penggunaan maklumat perakaunan akruan dalam empat aspek; iaitu pembangunan belanjawan, pengurusan liabiliti, pengurusan aset dan penzahiran akauntabiliti, di samping melihat impak penggunaan tersebut terhadap Matlamat Pembangunan Lestari (Sustainable Development Goals, “SDG”) berdasarkan Maqasid Syariah. Rekabentuk Kajian: Kajian ini melibatkan kementerian dan Pihak Berkuasa Tempatan (PBT) dengan menggunakan pendekatan kuantitatif dengan edaran soal selidik dalam talian menggunakan Google Form. Data kemudiannya dianalisa menggunakan statistik diskriptif dan inferensi. Dapatan: Hasil kajian rintis mendapati semua pemboleh ubah yang digunakan mempunyai nilai Cronbach’s Alpha yang dapat diterima, iaitu antara 0.617-0.886. Berdasarkan nilai min, dapatan kajian menunjukkan tahap penggunaan maklumat perakaunan akruan berada pada tahap yang tinggi; iaitu dalam pengurusan liabiliti (4.18), pengurusan aset (4.13), penzahiran akauntabilit...

IPN Journal of Research and Practice in Public Sector Accounting and Management

Purpose: The current study aims to determine the degrees of accrual accounting implementation and... more Purpose: The current study aims to determine the degrees of accrual accounting implementation and accrual information usage in the Malaysian public sector with relevant impacts on budget development and management, asset and liability management, accountability disclosure, and performance measurement. Methodology: The present study employed a qualitative methodology, namely focus group discussion to garner relevant insights from the accountants in Malaysian Ministries and Local Authorities (LA). Thematic analysis was subsequently conducted for interview data analysis. Results: The findings revealed that accrual accounting was implemented as specified in the Malaysian Government Treasury Circular. Meanwhile, accrual information was employed in budget development and management and asset and liability management albeit less frequently in performance measurement. Accrual information usage contributed to satisfactory accountability disclosure through more comprehensive, accurate, and tr...

Springer eBooks, Jul 13, 2022

Social Science Research Network, 2020

This paper aims to measure the financial performance and sustainability in Malaysian waqf private... more This paper aims to measure the financial performance and sustainability in Malaysian waqf private entity and corporations. Examining its performance and sustainability could be useful to assess waqf perpetual existence. Besides that, the waqf private entity and corporations frequently compare actual performance with standards or expectations to enhance the organizations’ achievements. Thus, by using ratio analysis, this study examines five years (2014-2018) annual reports of waqf private entity administered by Pusat Wakaf Majlis Agama Islam Wilayah Persekutuan Sdn. Bhd (PWMSB) and two waqf corporations Pusat Wakaf Selangor (PWS) and Wakaf An-Nur Corporation (WANCorp). The results indicate that only one waqf corporation was financially performed and sustainable in all seven components. The findings provide useful insights into the financial performance and sustainability of waqf private entity and corporations and highlight the need for policy makers in Malaysia and other Muslim countries to give due attention to the holistic accountability of waqf institutions to ensure waqf’s systematic revival. It is hoped that the results and the recommendations of the study would enable the financial reporting and accountability of such institutions at a higher level

JMIFR, Dec 1, 2018

This paper aims at exploring the impact of Islamic human resource (HR) practices on organizationa... more This paper aims at exploring the impact of Islamic human resource (HR) practices on organizational performance though organizational commitment. Data were collected from randomly selected 170 branch managers of six Islamic Banks listed on Dhaka Stock Exchange of Bangladesh. After collecting data, descriptive analysis and structural equation model were done to examine reliability and validity of the model. By analysis, the study finds that Islamic HR practices have more significant impact on organizational performance though organizational commitment rather than the direct effect of Islamic HR practices to organizational performance. The findings of the study advocate that Islamic banks should emphasize more on Islamic HR practices and organizational commitment to uphold their organizational performance.

Journal of Financial Reporting and Accounting, Apr 12, 2022

Purpose This study aims to explain the justification behind the current weak waqf reporting pract... more Purpose This study aims to explain the justification behind the current weak waqf reporting practices in waqf institutions in Malaysia and also investigates the factors affecting the good waqf reporting practices. Design/methodology/approach A series of interviews with four waqf officers who are involved with waqf reporting process from four different waqf institutions in Malaysia were conducted. Findings The findings show a number of reasons for the current weak waqf reporting practices including the absence of standardised waqf reporting standards, no reporting or disclosure awareness by the waqf management, limited reporting channels from the state authorities to the national authorities, diversification in the governance structure and reluctance of waqf administration to disclose waqf reporting. The findings also identified several factors contributing to good waqf reporting practices. This includes leadership, good cultural setting within the institution, political will as a push factor, limited qualified personnel as well as sustainability issues and finally, the visibility of the waqf report itself. Practical implications The study findings and recommendations are useful for the State Islamic Religious Councils and waqf institutions in Malaysia to enhance the waqf reporting practices in Malaysia. Originality/value This study is among the few studies that identify the reasons and factors affecting the good waqf reporting practices in Malaysia.

International Journal of Health Sciences (IJHS), Jul 31, 2022

Malaysia is currently seeing significant environmental pollution caused by manufacturing and expo... more Malaysia is currently seeing significant environmental pollution caused by manufacturing and export activities and heavily affecting the economy, society, and environment. This issue calls for investigation on how environmental sustainability, through technological innovation, can be integrated into current production operations to create a closed-loop system, thereby enhancing social performance. Green supply chain management (GSCM) is gaining attention because of increasing environmental deterioration, such as overflowing landfills, depletion of raw materials, and pollution in general. The purpose of this study is to examine the mediating role of technological innovation on the relationship between GSCM practices and social performance in 258 manufacturing firms in Malaysia certified with ISO 14001. Survey data were analysed using partial least squares structural equation modelling (PLS-SEM). The results revealed that GSCM practices had a significant and positive effect on technological innovation and social performance. Moreover, technological innovation had a positive effect on social performance. Technological innovation also mediated between GSCM and social 6359 performance. Therefore, the present paper confirms the positive effect of GSCM on the technological innovation of manufacturing firms, which in turn improves their social performance. The findings may help manufacturing firms to better understand the significant role of technological innovation in improving their GSCM practices and social performance.

International Journal of Health Sciences (IJHS), Jul 31, 2022

Green supply chain management (GSCM) practices are cross-organizational and closed-loop. They aim... more Green supply chain management (GSCM) practices are cross-organizational and closed-loop. They aim to reduce the ecological impact of the firm's activity without sacrificing quality, cost, reliability, performance, or energy utilisation efficiency. This study presents empirical evidence to encourage firms to implement GSCM practices, which may enhance their competitive advantages. This study attempts to contribute to the growing research on GSCM practices-namely internal environmental management, green purchasing, eco-design and packaging, investment recovery, and cooperation with customers-and their effects on competitive advantages using a sample of 258 ISO 14001-certified manufacturing firms in Malaysia. A partial least squares structural equation modelling (PLS-SEM) analysis showed the direct effects of green purchasing, eco-design and packaging, investment recovery, and cooperation with customers directly on competitive advantages. However, internal environmental management did not relate to competitive advantages. Suggestions for future research are proposed. The study confirms the positive effects of GSCM practices on the 8802 competitive advantages of firms in the Malaysian manufacturing industry.

MANAGEMENT & ACCOUNTING REVIEW, Apr 30, 2018

This study aims to develop an Accountability Disclosure Index (ADI) for Malaysian State Islamic R... more This study aims to develop an Accountability Disclosure Index (ADI) for Malaysian State Islamic Religious Councils (SIRC), concerning both quantity and quality. In this case, the quality of disclosure items was developed based on the qualitative characteristics, which rely on the International Financial Reporting Standards (IFRS) conceptual framework; namely, relevance, faithful representation, understandability, comparability and timeliness. Each characteristic was scored based on the 'benchmark' score, ranging from poor (1) to excellent (5). However, some of the characteristics have been modified to contextualize the SIRC study setting. Both quantity and quality of disclosure items index might contribute to a methodology for analysing and evaluating annual reports. Results show fifty-seven items of disclosure information, which were regarded by stakeholders relevant to be disclosed by the SIRC. Indeed, all these disclosure items should be disclosed in the SIRC annual reports, so as to meet the expectations of a wide range of stakeholders. With regard to the quality of disclosure, two different sets of qualitative characteristics for non-financial and financial statement disclosure were designed. All five qualitative characteristics were adapted to measure the quality of financial disclosure, whereas for non-financial disclosure, 'timeliness' was dropped due to the voluntarily nature of non-financial disclosure.

Addin, Jun 19, 2021

This study aims to analyse the current practices of disclosure of financial and non-financial rep... more This study aims to analyse the current practices of disclosure of financial and non-financial reports of waqf institutions in Indonesia; to identify the performance indicators concerning social economic and governance impact of waqf; to suggest the best reporting framework for waqf institutions in Indonesia. A qualitative method was employed to measure the content analysis of annual report. Data are collected by downloading annual reports ADDIN https://journal.iainkudus.ac.id/index.php/Addin

Studies in systems, decision and control, 2023

International Journal of Education, Psychology and Counseling

Person with Disabilities (PWD) is an individual that suffers a long-term physical, mental, intell... more Person with Disabilities (PWD) is an individual that suffers a long-term physical, mental, intellectual, or sensory impairments, preventing one from full and effective participation in society when faced with challenges. The challenges and pressures as a disabled person are very high especially for the individual that was born normal. The relation of PWD with hardship and poverty is very close because of the inability to manage oneself, run a business or find a job to generate an income. The tenacity and strength to rise again by an individual who has faced the misfortune or difficulty shows the characteristics of a person who has a high resilience. The Resilience Model is applied in this study as a guideline to enhance the resilience among PWD’s entrepreneurs. The findings of this study focus on the external protective factors (social support, psychological intervention, public facility and source of inspiration) and the internal protective factors (religion, learning motivation, a...

The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries

The purpose of this study is to investigate the current quality waqf reporting practices by waqf ... more The purpose of this study is to investigate the current quality waqf reporting practices by waqf institutions in Malaysia. Five factors that influence quality waqf reporting practices namely relevance, faithful representation, understandability, comparability and timeliness were studied. Twenty items were used to measure the current level of quality waqf reporting practices in all 14 waqf institutions in Malaysia. Results show the current quality waqf reporting practices by waqf institutions in Malaysia are at a moderate level as it only scored 40.29%. Among the five factors, timeliness scored the highest with 54.29% while the lowest score is comparability at 27.5%. Among the 14 waqf institutions, Perbadanan Wakaf Malaysia (PWS) achieved the highest scorewith 82%.On the other hand, there are eight (8) waqf institutions that only scored 20% (all 20 items are scored with one (1) as the lowest score value). This research provides an important extension on previous knowledge and relevant literature of quality waqf reporting practices by waqf institutions in Malaysia.Moreover, this research focuses on the key dimensions of quality waqf reporting practices reported in the literature. This research helps especially the management of waqf institutions to measure their current disclosure level to improve quality waqf reporting practices.

Awqaf-led Islamic Social Finance

The absence of the bottom line in the not-for-profit organisations, including waqf institution, r... more The absence of the bottom line in the not-for-profit organisations, including waqf institution, restrains the rendering of accounts. Therefore, the accountability of such faith-based institution is crucial towards achieving their outcome and socio-economic impact. Waqf institutions are established for social well-being; thus their outcome and impact on social benefits are essential, in addition to governance aspects. This is also in line with the National Blue Ocean Strategy (NBOS) and the Outcome-Based Budgeting (OBB) in the Malaysian public sector that has been announced, which concerns on the impact of programs and activities conducted, rather than focused on expenses and outputs. Indeed, this chapter aims to investigate disclosure practices for waqf, concerning their socio-economic impact. In order to achieve the stated research objective, case study approach is adopted through focus group discussion, by interviewing waqf accountants and managers to understand on waqf socio-economic impact. The findings indicate that the current waqf socio-economic impact disclosed by selected waqf institution is still in moderate level. Several recommendations are also provided in order to enhance accountability and promote transparency towards sustainability of waqf institutions in Malaysia.

Journal of Financial Reporting and Accounting

Purpose This study aims to explain the justification behind the current weak waqf reporting pract... more Purpose This study aims to explain the justification behind the current weak waqf reporting practices in waqf institutions in Malaysia and also investigates the factors affecting the good waqf reporting practices. Design/methodology/approach A series of interviews with four waqf officers who are involved with waqf reporting process from four different waqf institutions in Malaysia were conducted. Findings The findings show a number of reasons for the current weak waqf reporting practices including the absence of standardised waqf reporting standards, no reporting or disclosure awareness by the waqf management, limited reporting channels from the state authorities to the national authorities, diversification in the governance structure and reluctance of waqf administration to disclose waqf reporting. The findings also identified several factors contributing to good waqf reporting practices. This includes leadership, good cultural setting within the institution, political will as a pu...

Handbook of Research on Theory and Practice of Global Islamic Finance, 2020

This chapter examines the relationship between corporate governance practices and firm performanc... more This chapter examines the relationship between corporate governance practices and firm performance. The characteristics of the board of Shari'ah-compliant companies in consumer products counter of Bursa Malaysia were examined against the firm's performance using data from 77 companies from 2014 to 2016. Based on the result of multiple regression; board size, Muslim chairman, and Muslim director have a weak positive correlation with the performance of the firms. However, directors with Shari'ah background seem to have a negative correlation with the performance of the firms. The findings of the chapter would be very useful to the regulators to improve the Malaysian Code of Corporate Governance (MCCG). The findings also help to fill the gap on scarce literature that study the relationship between the corporate governance practices involving Muslim characteristics and performance.

Asia Proceedings of Social Sciences, 2020

This paper aims to measure the financial performance and sustainability in Malaysian waqf private... more This paper aims to measure the financial performance and sustainability in Malaysian waqf private entity and corporations. Examining its performance and sustainability could be useful to assess waqf perpetual existence. Besides that, the waqf private entity and corporations frequently compare actual performance with standards or expectations to enhance the organizations’ achievements. Thus, by using ratio analysis, this study examines five years (2014-2018) annual reports of waqf private entity administered by Pusat Wakaf Majlis Agama Islam Wilayah Persekutuan Sdn. Bhd (PWMSB) and two waqf corporations Pusat Wakaf Selangor (PWS) and Wakaf An-Nur Corporation (WANCorp). The results indicate that only one waqf corporation was financially performed and sustainable in all seven components. The findings provide useful insights into the financial performance and sustainability of waqf private entity and corporations and highlight the need for policy makers in Malaysia and other Muslim coun...

International Journal of Nusantara Islam, 2019

It is undeniable fact that waqf becomes as one of tools used in order to alleviate inequality amo... more It is undeniable fact that waqf becomes as one of tools used in order to alleviate inequality among people especially Muslim community. Basically, waqf fund is raised from the public and managed by mutawalli under waqf institution. As the intermediate party between waqif and beneficiaries, waqf institution is accountable for the management of waqf funds and need to disclose sufficient information pertaining to waqf fund itself. Good disclosure practices by waqf institution should cover both financial and non-financial information for all related waqf activities, programs and projects conducted. This includes such as corporate information, strategic information, financial performance information, financial statement information and non-financial performance information. To examine such disclosure practices, intensive content analysis was employed on waqf reporting information which is waqf annual report from three selected awqaf institutions namely, Perbadanan Wakaf Selangor (PWS), P...

ADDIN

This study aims to analyse the current practices of disclosure of financial and non-financial rep... more This study aims to analyse the current practices of disclosure of financial and non-financial reports of waqf institutions in Indonesia; to identify the performance indicators concerning social economic and governance impact of waqf; to suggest the best reporting framework for waqf institutions in Indonesia. A qualitative method was employed to measure the content analysis of annual report. Data are collected by downloading annual reports of waqf institutions from their website. Twenty waqf boards of 201 registered waqf institutions as the sample of participants. The disclosure of performance reports were measured by counting 57 disclosure items. The results indicate that waqf boards in Indonesia do not have a guidance or list for reporting their activities; methods on how to assess waqf board performance and the impact of waqf on social-economic and governance. They did not comply with 57 disclosure items, and none of waqf board reported the impact of waqf on social-economic and le...

IPN Journal of Research and Practice in Public Sector Accounting and Management

Tujuan: Kajian ini bertujuan untuk melihat sejauh mana penggunaan maklumat perakaunan akruan dala... more Tujuan: Kajian ini bertujuan untuk melihat sejauh mana penggunaan maklumat perakaunan akruan dalam empat aspek; iaitu pembangunan belanjawan, pengurusan liabiliti, pengurusan aset dan penzahiran akauntabiliti, di samping melihat impak penggunaan tersebut terhadap Matlamat Pembangunan Lestari (Sustainable Development Goals, “SDG”) berdasarkan Maqasid Syariah. Rekabentuk Kajian: Kajian ini melibatkan kementerian dan Pihak Berkuasa Tempatan (PBT) dengan menggunakan pendekatan kuantitatif dengan edaran soal selidik dalam talian menggunakan Google Form. Data kemudiannya dianalisa menggunakan statistik diskriptif dan inferensi. Dapatan: Hasil kajian rintis mendapati semua pemboleh ubah yang digunakan mempunyai nilai Cronbach’s Alpha yang dapat diterima, iaitu antara 0.617-0.886. Berdasarkan nilai min, dapatan kajian menunjukkan tahap penggunaan maklumat perakaunan akruan berada pada tahap yang tinggi; iaitu dalam pengurusan liabiliti (4.18), pengurusan aset (4.13), penzahiran akauntabilit...

IPN Journal of Research and Practice in Public Sector Accounting and Management

Purpose: The current study aims to determine the degrees of accrual accounting implementation and... more Purpose: The current study aims to determine the degrees of accrual accounting implementation and accrual information usage in the Malaysian public sector with relevant impacts on budget development and management, asset and liability management, accountability disclosure, and performance measurement. Methodology: The present study employed a qualitative methodology, namely focus group discussion to garner relevant insights from the accountants in Malaysian Ministries and Local Authorities (LA). Thematic analysis was subsequently conducted for interview data analysis. Results: The findings revealed that accrual accounting was implemented as specified in the Malaysian Government Treasury Circular. Meanwhile, accrual information was employed in budget development and management and asset and liability management albeit less frequently in performance measurement. Accrual information usage contributed to satisfactory accountability disclosure through more comprehensive, accurate, and tr...

Springer eBooks, Jul 13, 2022