Investing In Goodness: Exploring Pakistan's Attitude Towards Participation In Cash Waqf

Abstract

In the Islamic economic system, the concept of waqf places emphasis on the equitable distribution of resources for the benefit of society. While traditional property-focused programs like healthcare and education have received a lot of attention, cash waqf endowments have received less. But since the endower (waqif) has the authority to set goals, cash waqf offers an adaptable way to meet changing societal demands and encourage fair wealth distribution. Indeed, this study aims to investigate antecedents of people's attitudes towards cash waqf participation by using data from 395 respondents in three major cities (Karachi, Lahore, and Faisalabad) of Pakistan. The results of multiple regression show that religiosity (RL), knowledge (KN), informative influence (II) and convenience (CN) have a significant and positive impact on the attitude towards participation in cash waqf in Pakistan. The study provides a useful source of information to relate parties for instance the waqf institution and Islamic regulatory body in executing effective strategies to promote cash waqf as well as reinforcement of systematic collection procedures that can benefit the community. Therefore, regulatory agencies should consider endorsing programs that raise public knowledge and understanding of cash waqf, highlighting its convenience and religious importance. Thus, in order to promote increased cash waqf participation, managers could use strategic communication and marketing initiatives to leverage informative influence.