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This article presents an initial proposal for standardized financial reporting of waqf institutions. It taking into account the specificities of waqf assets and in line with international accounting standards. With waqf institutions struggling to be transparent and accountable, this article analyzes the current reporting frameworks and explores where the reporting systems are falling short. Aligning Islamic finance principles with global standards, including IFRS, the paper outlined a solution that would provide a formal waqf accounting approach in a way that was both ethical and responsive to the modern demand for transparency. Such alignment seeks to improve stakeholder confidence, cross-border comparability and sustainable waqf management. It implies that the model is used to ensure waqf entities can adopt world-class reporting standards and yet remain Shariah compliant.

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Framework for Standardized Financial Reporting in Waqf Institutions: Aligning with International Accounting Standards

  • 章节

  • 发表日期：

    2025年

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  • Siti Afiqah Zainuddin,
  • Mohd Safian Abdul Rahman,
  • Azhar Wahid,
  • Simona Mihai Yiannaki,
  • Roslizawati Che Aziz,
  • Fakhitah Ridzuan,
  • Muhammad Amirul Bin Zainol,
  • Siti Zamanira Mat Zaib

摘要

This article presents an initial proposal for standardized financial reporting of waqf institutions. It taking into account the specificities of waqf assets and in line with international accounting standards. With waqf institutions struggling to be transparent and accountable, this article analyzes the current reporting frameworks and explores where the reporting systems are falling short. Aligning Islamic finance principles with global standards, including IFRS, the paper outlined a solution that would provide a formal waqf accounting approach in a way that was both ethical and responsive to the modern demand for transparency. Such alignment seeks to improve stakeholder confidence, cross-border comparability and sustainable waqf management. It implies that the model is used to ensure waqf entities can adopt world-class reporting standards and yet remain Shariah compliant.