Waqf reporting to fulfil stakeholder attribution in Waqf islamic councils / Dalila Daud, Rashidah Abdul Rahman and Zaluddin Sulaiman

This article discusses the limitations of current theories of arguments which prove
not suitable to waqf institute. This articles also redefining specifications of
stakeholder theory to fulfill the waqf requirement. A conceptual model of 3ts based
on Tawhidic approach is uniquely derived from the basic concept of Muslim
responsibility and accountability to Allah. The model identifies the important
parties so that adequate and reliable information can identify the suitable reporting
among these groups. The current paper integrates accountability theory with
stakeholder theory to examine whether the council is performing and fulfilling the
intention of interested parties, whilst introducing the “triple accountability” in
order to meet the demand of reporting to stakeholders. This article is in different
cultural settings, a globally acceptable model is offered, and it draws on and
completes existing managerial and some guidelines for the reporting for best
practice of waqf governance. This paper also designs solutions through “waqf
stakeholder model” which can lead to better guidelines for traditional and
contemporary waqf activities (information, interaction, et al.) towards more holistic
solution.