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" Governance and accountability in corporate waqf institutions in Saudi Arabia "
Alomair, Mohammed
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Latin Dissertation
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| Record Number
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809409
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TLets792888
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| Main Entry
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Alomair, Mohammed
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| Title & Author
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Governance and accountability in corporate waqf institutions in Saudi Arabia\ Alomair, Mohammed
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| College
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Royal Holloway, University of London
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| Date
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2018
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| student score
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2018
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| Degree
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Thesis (Ph.D.)
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| Abstract
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The institution of waqf has played a critical role in the development of Muslim civilization, and its contributions exceed the functions of typical charities. Prior research conducted in the area of corporate governance and accountability has found that a good governance and accountability system enhances the performance and risk management of corporations. The revival of waqf institutions creates the need to apply good governance systems that could improve their performance, transparency, and accountability. The main aim of this empirical study is to evaluate and compare the current practice of governance and accountability of three waqf institutions belonging to different sectors (i.e., private, public, and the third sector) in Saudi Arabia by using qualitative research methods. In addition, this study aims to apply and examine the stakeholder salience theory in waqf institutions. The specific research methods adopted in this thesis comprised semi-structured interviews and document analysis. After conducting a deep and comprehensive analysis of the three cases, it has been found that there are similarities and differences between these awqaf in governance, accountability and the stakeholders' relationships. In terms of governance, the waqf deeds are considered as one of the most important pillars of the governance documents in the waqf institutions in all cases. In addition, the boards of trustees are considered the most significant organizational entity in waqf institutions. The roles and responsibilities of the boards of trustees in the awqaf studied are highly similar. Conversely, the awqaf were different in terms of size and composition of the boards of trustees. The study found that there are multiple stakeholders in the waqf institutions, and the cases studied agreed that there are five significant stakeholders: waqif, beneficiaries, court, government, and public. In general, the stakeholder salience theory provided important explanations to understand the ways in which waqf institutions are governed and held accountable in Saudi Arabia. However, after analysing the application of the stakeholder salience theory to the Saudi awqaf, the study found that there is a difference between some assumptions of the theory and the real-world views of the management of awqaf.
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waqf
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Royal Holloway, University of London
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