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.
| Metric | Asset Maintenance & Insurance Compliance |
|---|---|
| Target | 100% Statutory, >95% PPM |
| Frequency | Monthly Operational / Quarterly Trustee |
| Method | Statutory compliance % and PPM completion % |
| Unit | Percentage |
Level 1: Initial/Ad-hoc
Asset maintenance is reactive, performed only when a breakdown occurs. Insurance coverage is ad-hoc, inconsistent, or non-existent. No statutory compliance tracking.
Level 2: Developing
Basic maintenance schedules exist for critical assets. Key assets are insured, but policies are not regularly reviewed for adequacy. Basic safety checks occur but lack systematic tracking.
Level 3: Established
A documented PPM program exists for all significant assets. Statutory compliance logbooks (Fire, Legionella, Asbestos) are maintained. Insurance is comprehensive and reviewed annually. A basic asset register is in place.
Level 4: Advanced
Risk-based insurance optimization is used. A long-term capital plan with funded lifecycle reserves (sinking fund) protects waqf assets. KPI dashboards track compliance and costs. Leased/overseas assets have clear compliance matrices.
Level 5: Optimizing
Predictive maintenance techniques and fully integrated CAFM systems are used. External assurance audits compliance and insurance adequacy. The organization benchmarks performance and is a leader in asset stewardship.
Organisation Types
By Organisation Size
| Size | Applicability | Notes |
|---|---|---|
| Micro | partial | Statutory safety checks (fire, gas, electrical) apply if premises are owned or leased, but formal RACI matrices and planned preventive maintenance (PPM) programs are disproportionate. |
| Small | partial | Statutory compliance is mandatory for premises, but documentation like complex RACI matrices and formal PPM schedules can be simplified. |
| Medium | full | |
| Large | full | |
| Major | full |
Applicable When
- The organization owns or manages physical assets.
- The organization has waqf properties under its care.
- For overseas assets, apply host-country statutory requirements and evidence equivalence; for leased premises, maintain landlord liaison records, compliance responsibilities matrix, and ensure tenant obligations are fulfilled for demised areas.
Not Applicable When
- The organization operates solely online without any physical assets or premises.
Discussion (1)
📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json
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