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Reimagining University Funding: Legal Dimensions of Unlocking Waqf Potential in Higher Education

Author

Listed:
  • Mohd Shahid Azim Mohd Saufi

    (Faculty of Business and Management, Universiti Teknologi MARA (UiTM) Kedah Branch, Malaysia)

  • Ahmad Tarmizi Jusoh

    (Rosidi Mustafa & Harryzan, Advocates & Solicitors Syarie Counsel, Pulau Pinang, Malaysia)

  • Ahmad Yusairi Yusli

    (Faculty of Islamic Studies, Universiti Islam Antarabangsa Tuanku Syed Sirajuddin (UniSIRAJ), Malaysia)

  • Mohd Adib Abd Muin

    (Islamic Business School, College of Business, Universiti Utara Malaysia (UUM), Sintok, Kedah, Malaysia)

  • Mohd Izzat Mohd Abd Shukur

    (School of Islamic Studies and Human Sciences, MAIWP Professional College (KPMAIWP), Malaysia)

Abstract

This paper explores the transformative potential of waqf as an alternative and sustainable source of university funding, with a specific focus on its legal dimensions. In light of increasing financial constraints faced by higher education institutions, waqf an Islamic endowment rooted in charitable giving offers a viable and culturally relevant mechanism for long-term financial sustainability. However, the effective implementation of waqf in modern university governance requires robust legal frameworks, clear regulatory guidelines, and institutional support. This study analyses existing laws and policies governing waqf in selected jurisdictions, identifies legal gaps, and proposes reforms that could enhance the operationalization of waqf in higher education settings. By bridging the disciplines of Islamic finance, education policy, and law, the paper aims to contribute to a more integrated approach in reimagining university funding strategies through the lens of legal empowerment and waqf revival.

Suggested Citation

  • Mohd Shahid Azim Mohd Saufi & Ahmad Tarmizi Jusoh & Ahmad Yusairi Yusli & Mohd Adib Abd Muin & Mohd Izzat Mohd Abd Shukur, 2025. "Reimagining University Funding: Legal Dimensions of Unlocking Waqf Potential in Higher Education," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(8), pages 2861-2870, August.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-8:p:2861-2870
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    References listed on IDEAS

    as
    1. Astuti, Hepy Kusuma, 2022. "Pemberdayaan masyarakat melalui pengelolaan wakaf produktif," OSF Preprints ztbpf, Center for Open Science.
    2. repec:osf:osfxxx:ztbpf_v1 is not listed on IDEAS
    3. repec:bcp:journl:v:8:y:2024:i:9:p:849-856 is not listed on IDEAS
    4. Yusuf Haji-Othman & Wan Nazjmi Mohamed Fisol & Mohd Shahid Azim Mohd Saufi & Muhammad Baqir Abdullah, 2017. "Financing Kolej Universiti INSANIAH Using the Concept of Cash Waqf: The Way Forward," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(11), pages 1128-1135, November.
    5. Zohra jabeen & Mohammad Tariq Javed, 2007. "SUKUK-Structures: An Analysis of Risk-reward Sharing and Wealth Circulation," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 405-419.
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