Higher Education Finance and Islamic Endowments

The global economic crisis has led to public debt pressures on higher education, leading governments to curtail funding. This book discusses the financing of HEIs, focusing on philanthropic instruments through endowment and waqf funds. It explains the theory of successful endowment and waqf at HEIs, with elements such as appropriate investment planning, superior investment committees, and effective fundraising studied empirically. The book encourages universities to grow endowment and waqf funds through proper investment strategies executed by professional fund managers. It contributes new knowledge to scholars, students, and researchers, and informs university administrators on how to collect, manage, and invest funds from endowment and waqf.

Format: Hardback
Length: 202 pages
Publication date: 07 November 2023
Publisher: Taylor & Francis Ltd

The global economic crisis has placed significant pressure on public debt, impacting higher education in numerous countries. As a result, governments have been compelled to reduce funding for higher education institutions (HEIs). To address this issue, various instruments have been proposed to enable the private sector to channel funding to HEIs. This book aims to provide an introduction to the challenges surrounding the financing of HEIs, particularly public universities, which rely heavily on government budgets.

The sources of funding for HEIs are explored in detail, with a focus on philanthropic instruments such as endowment and waqf funds. These forms of income are obtained through contributions from third parties, including alumni, individuals, and business corporations. It is crucial that these funds are managed effectively to ensure their sustainability and to provide uninterrupted access to their benefits. The book discusses the theory of successful endowment and waqf at HEIs, emphasizing the importance of appropriate investment planning, the establishment of superior investment committees, the recruitment of highly skilled investment managers, the development of alumni networks, the diversification of income sources, and effective fundraising. Empirical studies have been conducted to examine these elements through case studies of selected Malaysian public universities.

The book also considers policy implications and offers recommendations for strategies that universities can adopt. One such recommendation is the appointment of fund managers to oversee the investment of endowment and waqf funds. Currently, there are no specific guidelines in place for appointing fund managers, which poses challenges for universities seeking to invest in assets such as bonds, equities, and property. Therefore, the book encourages universities to grow their endowment and waqf funds through proper investment strategies executed by professional fund managers.

The book contributes new knowledge to scholars, students, researchers, and university administrators, as well as informing policymakers and stakeholders in the higher education sector. It sheds light on the challenges faced by HEIs in the context of the global economic crisis and provides valuable insights into potential solutions. By exploring the role of the private sector in financing higher education, the book contributes to the ongoing debate about the future of higher education and its sustainability.

Weight: 570g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032565279