On The Dimensions Of Waqf Performance Measurements: A Survey
Keywords:
Waqf, Performance, Measurement, Stakeholders, SurveyAbstract
Issues in waqf management have been extensively deliberated, with concerns about whether they have been efficiently and competently managed in order to accomplish the intended objectives of their stakeholders. Studies on the performance measurement of these organizations exposed the use of financial ratios as the dominant dimension in the measurements. It has been contended that because of their non-profit religious nature and because they are entrusted with assets for the social and economic development of society, their performance measurement should additionally measure dimensions related to and focused on the realization of their goals, missions, and stakeholders’ objectives. In order to provide a framework of performance measurements that includes both financial and non-financial aspects, this research reports a survey of these extra performance measurement dimensions that have been suggested in the literature. In order to comprehend how non-profit organizations' (NPOs') non-financial performance aspects might be applied to waqf institutions' performance assessments, a literature analysis was conducted. The primary objective of this paper is to compile an assortment of quantitative and qualitative measurement tools that may be customized for use in assessing Waqf institutional performance. Besides, the main findings of this research are that the elements of effectiveness should be utilized in measuring the success and productivity of Waqf institutions. Also, the idea of waqf institution performance metrics based on financial and non-financial elements of measurement is one of the key findings of the study. In addition to offering a substantial insight into the "available" dimensions of evaluating the performances of waqf institutions, it is hoped that this study will prove to be an informative collection of methodologies.
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