The Islamic Social Enterprise (ISE) is increasingly gaining attention due to its flexibility to perform trading activities for income generation while at the same time offering societal contributions. The roles of ISE is greatly viewed from value-based perspective, where the ISE's objective is...

The developments of social enterprise (SE) concept around the world have significantly impacted Islamic organizations' behavior and operation. Due to SE concept where both social and economic objectives are combined in a single entity, it has increased the complexity of Islamic organizations'...

Accountability and non-profit sector is not a strange issue. As it has wider stakeholders as compared to other sectors, abuse, misappropriate and fraud cases frequently remark the ‘dark side' of non-profit sector. Plus, with the introduction of Social Enterprise (SE) concept that combine for...

This study aims to present an integrated Islamic financial accountability model, which is different from previous accountability models and frameworks. In this case, all three accountability aspects which are: (i) accountability to whom (accountability groups); (ii) accountability for what...

Based on the Islamic social enterprise (ISE) concept which is a combination of both social and economic objectives embedded with Islamic principles and values, this study aims to classify ISE based on economic sectors namely public, private and non-profit sectors. In addition, eight...

There has been an increased public interest in waqf institution transparency and accountability. The public has continued to demand the best standard of services and greater transparency from waqf institutions. Recent cases of frauds and financial manipulations by the management of faith-based...

It is undeniable that a non-profit sector as the third sector plays important roles in the economy nowadays. As a non-profit sector born from loopholes of public and private sectors, its impacts is believed to fulfill society’s interests that cannot be fulfilled by these two previous sectors....

Islam encourages Muslims to take care of their brothers and sisters by sharing and distributing their wealth to the different levels of the community. There are a few types of mechanisms that can be used to achieve this purpose. Nowadays, Islamic philanthropic institutions are known for the...

Waqf is one of Islamic economic instruments to promote the distribution of public wealth. This perpetual voluntary charity concept is that the underlying asset should remain and the people can benefit from the asset perpetually. It promises a continuous reward in the eternal life for as long as...

This chapter is written by Supiah Salleh, Mustafa Mohd Hanefah, Zurina Shafii and Muhammad Iqmal Hisham Kamaruddin from Universiti Sains Islam Malaysia (USIM). It explains the perceptions of the internal auditors (Shariah auditors), regulators (BNM), Shariah committee, Shariah officers, external...