Enhancing Waqf Sustainability Resources: The Critical Role of Stakeholder Identification and Engagement

Abstract

Waqf is an Islamic endowment that supports social welfare and economic development, which requires engagement with stakeholders to achieve waqf objectives. The study aims to investigate stakeholders and understand their salience for sustaining waqf resources. Through qualitative methods, semi-structured interviews were conducted with various stakeholders, including State Islamic Religious Councils (SIRCs), financial institutions, waqf partners, and corporate waqf entities. Thematic analysis was used to analyse the findings. The study highlights 14 stakeholders in sustaining waqf resources. The power stakeholders are the management team, government, and SIRCs. Although beneficiaries do not have direct power, their urgent needs still make them highly influential. Partnerships with private sectors, NGOs, and social influencers can mitigate waqf pressures. Ensuring legal and Shariah compliance is influenced by the Fatwa Committee and the Highest Authorities. The research provides recommendations for waqf institutions on strategy engagement between stakeholders by discovering the stakeholders to sustain waqf resources.