Waqif preference of waqf-based qardhul hassan financing in Malaysia using a maqasid approach

Purpose - The purpose of this study is to develop a new framework to measure waqif preference of waqf-based qardhul hassan financing in Malaysia. Design/methodology/approach - Using a maqasid approach, this study's data were drawn from 286 valid usable questionnaires to examine the effects of consumer, family, ummah and humanity factors on the preference. Findings - The study found that the said factors sourced from Attia's maqasid al-Shariah were instrumental in determining waqif preference to donate in waqf-based qardhul hassan financing. Research limitations/implications - Like others, this study's findings are limited in terms of their generalisations and applications. The theory, context and variables used should be expanded in future works. Practical implications - The results obtained are useful as a yardstick to enable the offered waqf-based qardhul hassan financing for improved mutual well-being among different classes of the wealth of societal groups in Malaysia. Furthermore, the results provide valuable insights into the direction for practitioners mainly managers involved in introducing waqf-based qardhul hassan financing as a new Islamic social financial instrument for poor and needy folks, at best. Originality/valueThis study is novel in terms of the proposed conceptual framework, where the waqif perspective comes into play.