Asset maintenance & insurance
This criterion assesses whether the organization implements systematic maintenance programs and appropriate insurance coverage for its assets, particularly waqf properties. It evaluates the organization's commitment to preserving the value and functionality of its assets through preventive care, timely repairs, and risk management. Trustees are ‘shepherds’ responsible for safeguarding assets; neglect breaches this trust and potentially the shurūṭ al-wāqif (conditions of the waqf), violating the command to ‘fulfil contracts’ (Qur’an 5:1). Proactive safety measures operationalize the maxim al-ḍarar yuzāl (harm must be removed) and the prohibition ‘do not throw yourselves into destruction’ (Qur’an 2:195), ensuring long-term sustainability and continued benefit to the community.
- How does the organization plan, schedule, and track maintenance for its key assets, including waqf properties?
- Is there a documented RACI for statutory duties, and how are 'competent persons' appointed and vetted?
- How are contractors vetted (insurance, qualifications, RAMS) and how are permits-to-work managed for high-risk tasks?
- What statutory safety logbooks (Fire, Asbestos, Legionella) are maintained and who audits them?
- What process is followed to ensure assets are adequately insured (including liability and trustees' indemnity) based on current valuations?
- How does the organization budget for lifecycle replacement (sinking funds) to protect the waqf corpus?
- How do you evidence that works and spending comply with shurūṭ al-wāqif (conditions of the waqf) and tenant covenants?
- Documented Asset Management/Maintenance Policy with RACI matrix.
- Preventive maintenance schedules and completion records/logs.
- Statutory Safety Logbooks: Fire safety file, Asbestos register, Legionella (L8) logbook, Gas (CP12), EICR, Lift (LOLER).
- Compliance Responsibilities Matrix for leased/overseas assets.
- Contractor vetting records (insurance, RAMS) and Permit-to-Work records.
- Statement of Insurance mapping assets to policy, sums insured (RICS valuation), and exclusions.
- Asset register detailing asset condition, value, and maintenance history.
- Annual budgets with specific line items for maintenance and lifecycle sinking funds.
| Level | Rating | Description |
|---|---|---|
| 5 | 5/5 | Predictive maintenance + integrated CAFM/finance risk system, benchmarking, external assurance/audit of compliance and insurance adequacy. |
| 4 | 4/5 | Risk-based insurance optimisation, multi-year lifecycle plan with funded reserves, KPI dashboard with trustee review. |
| 3 | 3/5 | Documented PPM + annual insurance renewal review (basic adequacy) + statutory compliance logbooks maintained. |
| 2 | 2/5 | Reactive maintenance only or significant insurance inadequacies; basic safety checks performed but not systematically tracked. |
| 1 | 1/5 | Neglected maintenance, statutory breaches, or no insurance coverage. |
Discussion (1)
📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json
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