Shariah compliant best practice tenancy management framework for commercial Waqf properties

Commercial waqf property (CWP) is seen as a catalyst for fulfilling the waqf philosophy provided that the waqf properties are well managed and able to produce a good income stream. However, a number of problems were highlighted in waqf tenancy management practices such as lack of adherence to Sharia...

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Main Author:	Abas, Farah Nadia
Format:	Thesis
Language:	English
Published:	2019
Subjects:	TX955-985 Building management
Online Access:	http://eprints.utm.my/id/eprint/96159/1/FarahNadiaAbasPFABU2019.pdf.pdf
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id	my-utm-ep.96159
record_format	uketd_dc
spelling	my-utm-ep.961592022-07-04T07:32:43Z Shariah compliant best practice tenancy management framework for commercial Waqf properties 2019 Abas, Farah Nadia TX955-985 Building management Commercial waqf property (CWP) is seen as a catalyst for fulfilling the waqf philosophy provided that the waqf properties are well managed and able to produce a good income stream. However, a number of problems were highlighted in waqf tenancy management practices such as lack of adherence to Shariah principles. In fact, there was also ambiguity on Shariah and waqf tenancy management attributes in terms of tenant selection, default rent and penalties. The arising issues need to be addressed by adopting the best practice tenancy management (BPTM). However, BPTM adopted by CWP shall coincide with Islamic principles and waqf needs. Therefore, the objectives of this study are to determine the tenancy management attributes based on the best practice, waqf needs and Shariah compliance and to investigate the tenancy management practice for CWP in Malaysia. A framework of Shariah Compliant Best Practice Tenancy Management (SCBPTM) for CWP is developed using a WaqfServ Dimension by integrating BPTM, waqf needs and Shariah compliance. The framework was developed to achieve Shariah compliant tenancy management, sustainable income generation and tenant satisfaction. This study employed a case study approach. Data were collected using document review, focus group discussion, in-depth interviews and in-situ observation. Semi-structured interviews were conducted with waqf property managers and tenants to investigate the compliance of Shariah, adherence to waqf needs and the issues of tenancy management.. The findings revealed that BPTM of tenant selection, rental charged, duration, early termination and rental distribution were not adopted as it did not meet the waqf needs. Furthermore, BPTM of penalty was not adopted since it was not Shariah compliance. It can be deduced that the full spectrum of BPTM could not be fully adopted by the waqf properties since waqf properties have their own special characteristics. Overall, this framework is deemed feasible in waqf tenancy management in Malaysia as concurred by the experts. The framework is expected to contribute to the waqf institutions including State Islamic Religious Council (SIRC), Department of Awqaf, Zakat and Hajj (JAWHAR), Yayasan Wakaf Malaysia (YWM), waqf stakeholders, investors, professional property managers and researchers. Furthermore, the framework could assist to improvise the CWP to be at par with the conventional building management while Shariah principles are being fully observed in the full spectrum of waqf tenancy management. 2019 Thesis http://eprints.utm.my/id/eprint/96159/ http://eprints.utm.my/id/eprint/96159/1/FarahNadiaAbasPFABU2019.pdf.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:142639 phd doctoral Universiti Teknologi Malaysia Faculty of Built Environment & Surveying
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	TX955-985 Building management
spellingShingle	TX955-985 Building management Abas, Farah Nadia Shariah compliant best practice tenancy management framework for commercial Waqf properties
description	Commercial waqf property (CWP) is seen as a catalyst for fulfilling the waqf philosophy provided that the waqf properties are well managed and able to produce a good income stream. However, a number of problems were highlighted in waqf tenancy management practices such as lack of adherence to Shariah principles. In fact, there was also ambiguity on Shariah and waqf tenancy management attributes in terms of tenant selection, default rent and penalties. The arising issues need to be addressed by adopting the best practice tenancy management (BPTM). However, BPTM adopted by CWP shall coincide with Islamic principles and waqf needs. Therefore, the objectives of this study are to determine the tenancy management attributes based on the best practice, waqf needs and Shariah compliance and to investigate the tenancy management practice for CWP in Malaysia. A framework of Shariah Compliant Best Practice Tenancy Management (SCBPTM) for CWP is developed using a WaqfServ Dimension by integrating BPTM, waqf needs and Shariah compliance. The framework was developed to achieve Shariah compliant tenancy management, sustainable income generation and tenant satisfaction. This study employed a case study approach. Data were collected using document review, focus group discussion, in-depth interviews and in-situ observation. Semi-structured interviews were conducted with waqf property managers and tenants to investigate the compliance of Shariah, adherence to waqf needs and the issues of tenancy management.. The findings revealed that BPTM of tenant selection, rental charged, duration, early termination and rental distribution were not adopted as it did not meet the waqf needs. Furthermore, BPTM of penalty was not adopted since it was not Shariah compliance. It can be deduced that the full spectrum of BPTM could not be fully adopted by the waqf properties since waqf properties have their own special characteristics. Overall, this framework is deemed feasible in waqf tenancy management in Malaysia as concurred by the experts. The framework is expected to contribute to the waqf institutions including State Islamic Religious Council (SIRC), Department of Awqaf, Zakat and Hajj (JAWHAR), Yayasan Wakaf Malaysia (YWM), waqf stakeholders, investors, professional property managers and researchers. Furthermore, the framework could assist to improvise the CWP to be at par with the conventional building management while Shariah principles are being fully observed in the full spectrum of waqf tenancy management.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Abas, Farah Nadia
author_facet	Abas, Farah Nadia
author_sort	Abas, Farah Nadia
title	Shariah compliant best practice tenancy management framework for commercial Waqf properties
title_short	Shariah compliant best practice tenancy management framework for commercial Waqf properties
title_full	Shariah compliant best practice tenancy management framework for commercial Waqf properties
title_fullStr	Shariah compliant best practice tenancy management framework for commercial Waqf properties
title_full_unstemmed	Shariah compliant best practice tenancy management framework for commercial Waqf properties
title_sort	shariah compliant best practice tenancy management framework for commercial waqf properties
granting_institution	Universiti Teknologi Malaysia
granting_department	Faculty of Built Environment & Surveying
publishDate	2019
url	http://eprints.utm.my/id/eprint/96159/1/FarahNadiaAbasPFABU2019.pdf.pdf
_version_	1747818642879283200

Shariah compliant best practice tenancy management framework for commercial Waqf properties

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