Board Diversity, Governance and Performance In Waqf Institutions

Waqf, as a permanent donation of one’s wealth to Allah and one of the poverty alleviation mechanisms in society, has substantial contributions to socio-economic and social development (Hassan & Yusoff, 2020; Pitchay et al., 2018; Zeni & Sapuan, 2017). Additionally, waqf is also a poverty alleviation mechanism in society (Zeni & Sapuan, 2017). In Malaysia, waqf institutions are under the supervision of each State Islamic Religious Council (SIRC) (Abdul Latif, Nik Din & Mustapha, 2018). There are 14 SIRCs in Malaysia, and the boards of directors (BODs) of these institutions ensure that they are well-structured. One of the roles of the BODs is related to the governance of the waqf institution. (Price, 2018). Therefore, governance of waqf is one of the important elements to be considered to ensure that available resources from society’s voluntary charities are used appropriately. The purpose of this study is to examine selected governance indicators (board diversity) influencing the performance of waqf institutions in Malaysia. Thus, this study investigates the influence of these two(2) selected board diversity, namely (1) gender, and (2) age, on the waqf performance under the supervision of the State Islamic Religious Council (SIRC) in Malaysia.

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