FINANCIAL ANALYSIS OF WAQF REAL ESTATE REVENUES IN THE WEST BANK: 1994-2014
Journal Title: Asian Economic and Financial Review - Year 2014, Vol 4, Issue 10
Abstract
This paper made a financial analysis of the revenues of the Palestinian Ministry of Waqf ( endowment ) and specifically its real estate revenues in the West Bank. It was found that 61% of the waqf ministry?s total revenues were from real estate. This clearly shows the importance of waqf real estate rentals in the ministry?s annual budget. The importance of this study springs from its dependence on primary sources: Palestinian Ministry of Waqf?s financial records, and its West Bank directorates ? 2,108 files related to real estate leasing. This was in addition to personal interviews with waqf ministry officials and experts from outside the ministry. In order to achieve the purpose of this study ( finding out the factors impeding the development / investment of the ministry?s real estate low revenues), the researcher computed the collected data of the leased waqf real estate using the descriptive analytical method. After data analysis, it was found that the West Bank was home to a large number of leased waqf real estate but its revenues were low compared to its size and locations. It was also found that the ministry had a big problem in collecting rentals from the tenants. In 2013, the ministry only managed to collect 1,264,372 Jordanian dinars, though the actual value of dues was JD 4,599,631. In other words, the ministry managed to collect 27% of all dues. The rest remained debts and revolving balance on the tenants. This situation was due to the waqf real estate leasing mechanism pattern of contracts regulating them, the legal extension of leasing contracts, freezing of rental charges, low collections, accumulation of debts on tenants, and legal legislations.
Authors and Affiliations
Anwar H. M. Musaee| Department of Arabic Studies and Islamic Civilization, Faculty of Islamic Studies, National University of Malaysia, Malaysia, Eeman Muhammad Abbas| Department of Arabic Studies and Islamic Civilization, Faculty of Islamic Studies, National University of Malaysia, Malaysia, Wan Kamal Mujani| Department of Arabic Studies and Islamic Civilization, Faculty of Islamic Studies, National University of Malaysia, Malaysia
Keywords
Related Articles
- EP ID EP2079
- DOI -
- Views 405
- Downloads 43
QUANTO INTEREST-RATE EXCHANGE OPTIONS IN A CROSS-CURRENCY LIBOR MARKET MODEL
The purpose of this paper is to price quanto interest-rate exchange options (QIREOs) based on a practical and easy-to-use interest-rate model. According to the payoff structure of QIREOs, the cross-currency LIBOR market...
EXCHANGE MARKET PRESSURE IN INDONESIA: A UNIVARIATE MARKOV SWITCHING ANALYSIS
The aim of this paper is to analyze the nature of exchange market pressure in the case of the Indonesian economy. More specifically, this paper aims to answer whether there is non-linearity or multiple equilibria in the...
CAN EMERGING MARKET PROTECTIONISM BE BENEFICIAL?
This paper employs a sequential trade competition model to analyze differential trade effects on an emerging market. We find that free trade is not able to alter the ex post dominance of the foreign incumbents and, conve...
THE SCOPE FOR INCREASING BIOFUEL CROP PRODUCTION IN JAPAN: AN ANALYSIS OF ALTERNATIVE POLICIES
In 2010, concerns regarding Japan?s excessive dependence on imports for food and energy caused the Japanese government to introduce subsidies to stimulate biofuel crop production. In this paper, we study the viability of...
Relationship between Working Capital, Operating Cash Flows and Operating Income: Empirical Evidences from Listed Firms in Tehran Stock Exchange
The main purpose of this research is to investigate the relationship between working capital, operating cash flow and operating income, in the companies that listed in Tehran Stock Exchange. Panel analysis is applied to...