Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia

Purpose – This paper aims to attempt to offer a viable alternativemodel of source of financing whichis known as integrated cash waqf micro enterprises investment (ICWME-I) model for micro enterprises in Malaysia. Design/methodology/approach – The literature on the issues of accessing to finance fa...

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Main Authors:	Mohd Thas Thaker, Mohamed Asmy, Mohammed, Mustafa Omar, Duasa, Jarita, Abdullah, Moha Asri
Format:	Article
Language:	English English
Published:	Emerald Group Publishing Ltd. 2016
Subjects:	HF5001 Business. Business Administration HG Finance HJ Public Finance
Online Access:	http://irep.iium.edu.my/51501/ http://irep.iium.edu.my/51501/ http://irep.iium.edu.my/51501/ http://irep.iium.edu.my/51501/1/51501_Developing%20cash%20waqf.pdf http://irep.iium.edu.my/51501/2/51501_Developing%20cash%20waqf_SCOPUS.pdf

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recordtype	eprints
spelling	iium-515012017-01-18T02:45:20Z http://irep.iium.edu.my/51501/ Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia Mohd Thas Thaker, Mohamed Asmy Mohammed, Mustafa Omar Duasa, Jarita Abdullah, Moha Asri HF5001 Business. Business Administration HG Finance HJ Public Finance Purpose – This paper aims to attempt to offer a viable alternativemodel of source of financing whichis known as integrated cash waqf micro enterprises investment (ICWME-I) model for micro enterprises in Malaysia. Design/methodology/approach – The literature on the issues of accessing to finance faced by micro enterprises and cash waqf are reviewed critically and used in the attempt of proposing an alternative model. Findings – The paper has developed ICWME-I model as a source of financing for micro enterprises. This model is expected to provide financial services by using cash waqf fund and involved the participatory contract between non-profit organization and micro enterprises. In addition, with the proposed model, there will be no collateral requirement, interest rate and other stringent requirements which usually imposed by existing conventional financial institutions. Research limitations/implications – The paper is based on conceptual explorations of literature in the area of micro enterprises and cash waqf. This is a conceptual paper, so it did not use any empirical analysis. Practical implications – The findings of this paper will provide micro enterprises with an alternative source of financing to start-up or expand their business by using cash waqf fund. The present study also has implications for government and policy makers. With the involvement of non-profit organization that is proposed in this model, it helps the government to reduce its expenses for the development of micro enterprises. Originality/value – This paper offers an additional literature on cash waqf especially from the Malaysian context. Furthermore, this paper adds to the literature on waqf and cash waqf. The paper proposes a viable alternative model for micro enterprises as a source of financing by using cash waqf fund. This model incorporates Musharakah Mutanaqisah (diminishing partnership) as a financial arrangement between non-profit organization and micro enterprises Emerald Group Publishing Ltd. 2016 Article PeerReviewed application/pdf en http://irep.iium.edu.my/51501/1/51501_Developing%20cash%20waqf.pdf application/pdf en http://irep.iium.edu.my/51501/2/51501_Developing%20cash%20waqf_SCOPUS.pdf Mohd Thas Thaker, Mohamed Asmy and Mohammed, Mustafa Omar and Duasa, Jarita and Abdullah, Moha Asri (2016) Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia. Journal of Islamic Accounting and Business Research, 7 (4). pp. 254-267. ISSN 1759-0817 E-ISSN 1759-0825 http://www.emeraldinsight.com/doi/pdfplus/10.1108/JIABR-09-2014-0029 10.1108/JIABR-09-2014-0029
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HF5001 Business. Business Administration HG Finance HJ Public Finance
spellingShingle	HF5001 Business. Business Administration HG Finance HJ Public Finance Mohd Thas Thaker, Mohamed Asmy Mohammed, Mustafa Omar Duasa, Jarita Abdullah, Moha Asri Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia
description	Purpose – This paper aims to attempt to offer a viable alternativemodel of source of financing whichis known as integrated cash waqf micro enterprises investment (ICWME-I) model for micro enterprises in Malaysia. Design/methodology/approach – The literature on the issues of accessing to finance faced by micro enterprises and cash waqf are reviewed critically and used in the attempt of proposing an alternative model. Findings – The paper has developed ICWME-I model as a source of financing for micro enterprises. This model is expected to provide financial services by using cash waqf fund and involved the participatory contract between non-profit organization and micro enterprises. In addition, with the proposed model, there will be no collateral requirement, interest rate and other stringent requirements which usually imposed by existing conventional financial institutions. Research limitations/implications – The paper is based on conceptual explorations of literature in the area of micro enterprises and cash waqf. This is a conceptual paper, so it did not use any empirical analysis. Practical implications – The findings of this paper will provide micro enterprises with an alternative source of financing to start-up or expand their business by using cash waqf fund. The present study also has implications for government and policy makers. With the involvement of non-profit organization that is proposed in this model, it helps the government to reduce its expenses for the development of micro enterprises. Originality/value – This paper offers an additional literature on cash waqf especially from the Malaysian context. Furthermore, this paper adds to the literature on waqf and cash waqf. The paper proposes a viable alternative model for micro enterprises as a source of financing by using cash waqf fund. This model incorporates Musharakah Mutanaqisah (diminishing partnership) as a financial arrangement between non-profit organization and micro enterprises
format	Article
author	Mohd Thas Thaker, Mohamed Asmy Mohammed, Mustafa Omar Duasa, Jarita Abdullah, Moha Asri
author_facet	Mohd Thas Thaker, Mohamed Asmy Mohammed, Mustafa Omar Duasa, Jarita Abdullah, Moha Asri
author_sort	Mohd Thas Thaker, Mohamed Asmy
title	Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia
title_short	Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia
title_full	Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia
title_fullStr	Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia
title_full_unstemmed	Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia
title_sort	developing cash waqf model as an alternative source of financing for micro enterprises in malaysia
publisher	Emerald Group Publishing Ltd.
publishDate	2016
url	http://irep.iium.edu.my/51501/ http://irep.iium.edu.my/51501/ http://irep.iium.edu.my/51501/ http://irep.iium.edu.my/51501/1/51501_Developing%20cash%20waqf.pdf http://irep.iium.edu.my/51501/2/51501_Developing%20cash%20waqf_SCOPUS.pdf
first_indexed	2023-09-18T21:12:54Z
last_indexed	2023-09-18T21:12:54Z
_version_	1777411371521015808

Developing cash waqf model as an alternative source of financing for micro enterprises in Malaysia

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