Ihtisab (Accountability) in Waqf Institutions: A Review and Synthesis of Literature

Abstract

Waqf is an Islamic philanthropy which has a very big maslahah for the ummah, but less under
stood by community due to the lack of socialization. Research findings show the weaknesses 
on accounting and accountability in waqf institutions that reduce waqf maslahah, the lost or 
dormant of waqf assets. Most of nazhir (trustee) do not manage waqf assets accountably, effi
ciently, and effectively. In addition, they also do not present it properly in the financial state
ment and report it to the public. The situation is due to the unavailability of waqf accounting 
standard for nazhir. This study was conducted with the aim to synthesize the findings of ihtisab 
(accountability) studies as a basic theory building of accounting standard which is expected to 
improve performance of nazhir which, in turn,  will increase maslahah of waqf for the ummah. 
This study employed shuratic method with IIE (Interactive, Integrative and Evolutionary)  
process modified by meta-synthesis. The research process was carried out by interactive and 
integrative of individual findings of the same research topics to find an integrative theory of 
ihtisab as an evolutionary of Islamic science that is the basic of Ihtisab standard. Synthesizing 
published 20 ihtisab studies leads some basics of ihtisab standard as guidance for nazhir to be 
responsible by having good understanding of accounting and conducting dual Islamic account
ability. To meet the responsibility, Nazhir should be good in akhlak (moral) and bring his mem
bers into a good akhlak too as akhlak is a key success for Islamic institutions. Due to the fact 
that Synthesis of ihtisab research findings has not been done so far, it is expected that this syn
thesis of the studies can be the basis for subsequent researchers to continue and develop this 
findings on the other dimensions of theories and models by developing Islamic science and 
Islamic empirical methods in line with shariah.