Waqf is an Islamic financial mechanism that can improve the quality of the Islamic financial system. The Islamic banking system's operation using waqf practices such as creating waqf banks (WB) can contribute to the development of the Islamic financial and economic system. However, until now, Malaysia still does not have a WB. In line with this, the main objective of this study is to propose a model that focuses on how to develop the new WB Operational Structural model, which has to be in line with shariah law. This study is a qualitative study using an exploratory design. This study involved the collection of primary and secondary data. Primary data were obtained through face-to-face interviews using semi-structured questions on waqf institutions executives, Islamic bank managers, and Muslim scholars to indicate WB operational structure development. Secondary data involves document sources such as books, magazines, journals, and others. The data were then analyzed by qualitative content analysis. The study results found that the bank endowment structure model should consist of the consumer banking department (CnBD), corporate banking department (CBD), and the bancassurance department. It is hoped that this bank wakaf model can be used as a guide for banks and national leaders in their efforts to develop a wakaf bank in Malaysia.
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In-Text Citation: (Yusof et al., 2022)
To Cite this Article: Yusof, M. A., Hassan, S. H. M., Musa, M. S., Roslan, M. N. H., & Ayub, M. N. (2022). Waqf Bank Discussion Series: An Operational Structure Development for Economic Growth in Malaysia. International Journal of Academic Research in Business and Social Sciences, 12(1), 2574–2583.
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