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 428
- Downloads 43
Debt and Debt Volatility: Effect on Economic Growth in Nigeria
Today the major economic problem of the developing nation is the effect and volatility of debt on the real development of the economy. Debt volume continues to increase while the GDP either remain constant or increase at...
THE TESTING OF HALL’S PERMANENT INCOME HYPOTHESIS: A CASE STUDY OF PAKISTAN
The objective of this study is to test the Hall’s permanent income hypothesis for Pakistan using annual data from 1992 to 2010. The basic model of permanent income hypothesis (PIH) showed the validity of absolute income...
AN EMPIRICAL TEST OF INCOME DISTRIBUTION AND MIGRATION RELATIONSHIP: A CASE OF TURKEY
The relationship between migration and income distribution is an important phenomena. There are two types of migration: internal (in migration) and external (out migration). Both of them are because of politic, economic...
ECONOMETRICS ANALYSIS OF IMPACT OF CAPITAL MARKET ON ECONOMIC GROWTH IN NIGERIA (1971-2010)
The stock market is a common feature of a modern economy and it is reputed to perform some necessary functions, which promote the growth and development of the economy. This study examines whether or not stock market pro...
HOW NEWSPAPER-ARTICLE-EVENTS, OTHER STOCK MARKET INDICES, AND THE FOREIGN CURRENCY RATE AFFECT THE PHILIPPINE STOCK MARKET
Eugene Fama in his “Efficient Market Hypothesis” introduced the term newspaper-article-event. The aim of this paper is to find out if newspaper-article-events which are presented and discussed in newspaper articles and w...