AWARENESS TOWARDS WAQF ENTREPRENEURSHIP IN MALAYSIA AND INDONESIA

AN EMPIRICAL INVESTIGATION

Abstract

Waqf is an Islamic financial instrument that can be utilised in helping various economic matters around the world. The growth of waqf in Malaysia and Indonesia has become ever more significant. The recognition of the importance of waqf to Malaysia and Indonesia’s economy is demonstrated by the utter value and breadth for entrepreneurs of the support structures and policies. The primary purpose of this research is to investigate the factors that influence the awareness of waqf entrepreneurship in Malaysia and Indonesia. Questionnaires were distributed to the 188 respondents, and the sampling procedure adopted in this research was purposive sampling. The result indicates that knowledge, promotion, and attitude become the essential factors influencing awareness towards waqf entrepreneurship. Besides, knowledge is identified as the best predictor to influence awareness. The findings contribute to the literature by identifying the determinants to impact awareness, particularly on waqf entrepreneurship. This is important because entrepreneurship can promote social change to innovation, therefore improving society's life. It will be very beneficial if the number of entrepreneurs can be increased without relying on the government budget to help the communities, particularly for countries like Malaysia and Indonesia.