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TS-AWM-04 Trust & Stewardship Asset & Waqf Management CORE Excellence v2.9.7

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.

Compliance 2
  • Statutory inspection/compliance calendar (Gas, EICR, Fire, Asbestos, Legionella)
    Compliance Essential
  • Insurance programme (Buildings, Liability, Indemnity, BI) annually reviewed
    Compliance Essential
Basic 3
  • Qualified maintenance personnel & Contractor Vetting
    Training Essential
  • Comprehensive asset register
    Documentation Essential
  • Emergency maintenance protocols
    Excellence High
Good 5
  • Governance & accountability (RACI)
    Governance Essential
  • Documented asset maintenance schedule (PPM)
    Documentation Essential
  • Leased/Overseas Compliance Responsibilities Matrix
    Governance Essential
  • Iḥsān in workmanship (Right-first-time)
    Excellence High
  • Risk assessment and mitigation strategies
    Leadership High
Better 4
  • Lifecycle funding (Sinking Fund) for waqf assets
    Sustainability Essential
  • Lifecycle maintenance planning with sinking funds
    Sustainability High
  • Digital asset management system (CMMS)
    Technology High
  • Heritage/listed assets conservation plans
    Excellence Medium

Discussion (1)

Administrator 2026-03-07 11:07:36.386569

📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json

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