Contemporary Waqf Reporting Practices and Governance in Malaysia: A Systematic Literature Review

Mohd Hadli Shah Mohamad Yunus; Mohd Rizal Muwazir; Kamaruzaman Noordin

Mohd Hadli Shah Mohamad Yunus UNIVERSITI POLY-TECH MALAYSIA http://orcid.org/0000-0001-8367-8420
Mohd Rizal Muwazir Academy of Islamic Studies, University of Malaya, Malaysia
Kamaruzaman Noordin

Abstract

This study aims to conduct a Systematic Literature Review (SLR) following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines to investigate the governance of waqf reporting practices in Malaysia. The importance of mutawalli accountability and adherence to Islamic law in waqf administration has been recognized since the time of the Ottoman Empire. However, research in this area is limited. By conducting a comprehensive search on the Web of Science (WOS) and Scopus databases, this review aims to identify empirical research on waqf reporting practice and governance. The findings will provide valuable insights for practitioners, policymakers, and standard setters, helping them improve waqf reporting and governance practices. This study will contribute to the understanding of current waqf reporting practices, identify key factors influencing mutawalli accountability, and examine the alignment of waqf reporting practices with Islamic principles. By following PRISMA guidelines, this review ensures a rigorous and systematic approach, providing a comprehensive overview of the state of waqf reporting practices and governance in Malaysia.

Author Biographies

Mohd Hadli Shah Mohamad Yunus, UNIVERSITI POLY-TECH MALAYSIA

Mohd Hadli Shah Mohamad Yunus is a lecturer attached to the Institute of Professional Studies of Universiti Poly-Tech Malaysia, Kuala Lumpur, Malaysia. He holds a Diploma in Banking Studies from UiTM in 1995, a Bachelor of Accounting (Honest) degree in 2006 from UKM and a Master of Science (Accounting) degree in 2016 from UPM. He is currently pursuing a PhD. in Islamic Finance at the University of Malaya and is expected to graduate at the end of 2023. Prior to joining UPTM in 2013, his proven ability in a variety of industrial experiences, including as Assistant Vice President (Banking) at the Quality Assurance Department for Infopro Sdn. Bhd. in 2012-2013, where he oversaw the direction, coordination, and control of all banking system duties and activities, as well as project implementation services. He also worked as a Treasury Manager for Amcop Security Resources Sdn Bhd. from 2010-2012. Additionally, he has twelve years of experience in Islamic finance and banking, having previously been employed at Bank Islam Malaysia Bhd. (BIMB) from 1996-2008. He is an associate member of the Malaysian Institute of Accountants (MIA) and a member of the Federation of Investment Managers Malaysia (FIMM). His research interest cover topics about Islamic Finance and Banking, Islamic Accounting, Financial Management and Governance. He has published several papers in well-regarded journals and has participated in numerous national and international conferences. He can be contacted through email at mohd_hadli@uptm.edu.my

Mohd Rizal Muwazir, Academy of Islamic Studies, University of Malaya, Malaysia

Dr. Mohd Rizal Muwazir is currently a senior lecturer at the Department of Shariah and Management, Academy of Islamic Studies, University of Malaya, Malaysia. Mohd Rizal completed his PhD in accounting and finance from Cardiff Business School, UK in 2012. He holds a BA in Shariah and Management (2003), and an MBA in accounting (2006) from the University of Malaya. He also holds a Prosgraduate Diploma in Social Science Research Methods from Cardiff University in 2007. Mohd Rizal's main research interests are CSR, corporate governance and sustainability in Islamic banking and finance. His research interests also include Islamic accounting, disclosure and social aspect in Islamic business. He is a member of the Shariah Committe of OCBC AL-Amin Bank Berhad. In addition, he is also a research team member at Gulf One Lab for Computational and Economic Research (GOLCER), Lancaster University Management School, UK.

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