Chi-square association test for microfinance-waqf: Does business units ownership correlate with cash waqf collected?

Abstract

Cash endowment (cash waqf) via microfinance-waqf institutions begins to be popular among Muslims. As managers, microfinance-waqf institutions are responsible for maximizing the waqf's productivity development programs and its collection to achieve equitable welfare. The purpose of this study is to examine the correlation between business unit ownership and the amount of endowment funds collected by microfinance-waqf institutions. What are the development programs that are of interest to the community while at the same time satisfying the donors (waqifs)? To achieve the objective of the study, we used a statistical analysis model of two categorical variables within microfinance-waqf institutions. A total of 27 microfinance-waqf institutions have been interviewed about both their acquisition of cash waqf and their business unit licenses. Chi square test results show that microfinance-waqf institutions' ownership of business units does not correlate with the amount of waqf funds they collected.