Educational Endowments Governance for Institutions of Higher Education in Malaysia: A Preliminary Study

The Muslim community in general knows the role of endowments in the development of the community which are to develop key sectors in the community, including spiritual development, the welfare of orphans and the less fortunate, the construction of hospitals and welfare care of the elderly and development of primary, secondary and tertiary education. The potential of the endowment especially in education needs an effective strategy to enhance the role of the waqf property. Implementation of university endowments can be intensified with the development of effective cash management, strong legislation, good governance, marketing efforts and to identify an appropriate model for the management of the waqf. This article specifically focuses on the importance of governance established for application in educational endowments in universities so they serve as a guideline to facilitate the parties to create and develop a systematic and tidy educational endowment.