TS-AWM-02
Trust & Stewardship
Asset & Waqf Management
CORE
Excellence
v2.9.7
Annual waqf ROI & impact report
Evaluating whether the organization produces and publishes an annual report detailing the financial total return (net of fees) and social impact of its waqf (endowment) assets. It assesses the organization's commitment to transparent reporting, performance accountability, Shariah compliance, and balanced measurement of financial and social returns. Such transparency fulfills the duty of amanah (trust) in stewardship, demonstrating how endowed assets actively advance the maqasid al-Shariah (objectives of Islamic law) to serve the maslahah (public interest).
Assessment Questions
- Does the organization produce a consolidated report on the performance of its waqf assets within 6 months of year-end?
- Does the report disclose gross and net total return (TWR/IRR), with a breakdown of all investment and property costs/fees?
- Is performance reported against CPI and a stated benchmark (including rationale and whether benchmark is blended)?
- Does the report include a Theory of Change and outcome indicators (baseline/target/result) for social impact?
- Does the report include an istibdāl/variation register (if applicable) with trustee approvals, legal basis, and justification?
- Does it disclose Shariah screening thresholds, purification policy, and treatment of non-compliant income?
- Is the report published in accessible formats (WCAG-compliant HTML/PDF)?
Evidence Requirements
- Copy of the most recent annual waqf report.
- Benchmark policy document (including blended benchmark methodology).
- Investment costs/fees schedule (manager fees, custody, transaction costs, property management).
- Waqf deed compliance checklist + istibdāl/variation register and trustee resolutions.
- Shariah governance documents: SSB ToR, screening methodology, purification policy, annual attestation.
- External assurance report (ISAE 3000/SVI) and management response.
- Accessibility conformance statement (WCAG 2.1 AA) or audit result.
Scoring Guidelines
| Level | Rating | Description |
|---|---|---|
| 5 | 5/5 | Published ≤4 months; ≥95% coverage; full fee disclosure + net return; ISAE 3000 assurance on impact; deed compliance + istibdāl register; Shariah attestation; corrective action log. |
| 4 | 4/5 | Published ≤6 months; ≥80% coverage; net total return vs benchmark AND CPI disclosed; defined impact methodology + outcome indicators. |
| 3 | 3/5 | Formal report produced; total return presented (may be gross/unbenchmarked); impact largely qualitative; limited deed/Shariah details. |
| 2 | 2/5 | Internal income/yield reporting only; no total return, no benchmarks, no cost disclosure, no impact methodology. |
| 1 | 1/5 | No waqf ROI and impact reporting |
Discussion (1)
Administrator
2026-03-07 11:07:35.791159
📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json
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