SUMMARY
Waqf denotes an Islamic endowment institution. According toIslamic law, a Waqf property is permanently dedicated to Allah Almighty andis to be used, as specified by the waqif (the endower), for permissible purposes.India and Malaysia, two countries of unique importance to the Muslim world,have an enormous number of Waqf properties. This study explores immovableWaqf, rather than movable and cash Waqf assets. The huge Waqf propertieshave significantly supported the development of the economic and social orderof the Muslim community in the past. However, it is widely believed that due toinefficient governance and mismanagement, Waqf assets in both countries havenot been optimally utilized for the betterment of local Muslim societies. Thiscomparative study attempts to analyze the governance of Waqf institutions inIndia and Malaysia in the past and present, so as to highlight the main issuespertaining to governance. This will help each country to look at their respectivemerits and demerits and to learn from each other’s governance model. Themethods used in this study are analytical and comparative in nature.