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Private Tahfiz School (PTS) in Malaysia are funded by various monetary sources such as private capital, funding from non-governmental organizations, charity and waqf. Stable finances will help in terms of governance, management, facilities, and teaching staff, and having this ensures the survivability of any PTS. However, in the wake of growing management costs amid a pandemic, are such fundings enough for the institution to ensure its survivability? Thus, this conceptual paper examines PTS's financial issues, and the viability of Khan Mohamed's Waqf Development Model as a framework to be applied for PTS's survivability. Data were collected through library searches, and initial findings suggest that issues hindering PTS development in Malaysia includes the lack of initial capital to build the infrastructure of the institution, and the inability of the institution to generate financial resources to maintain its survivability. This paper also proposes the expansion of waqf products through ijarah which is a financing approach whereby an agreement to lease is made and this method is seen as the best alternative to the development and renovation of waqf land.
Yusof et al. (Fri,) studied this question.