Organizing cash waqf as a micro-CSR for the micro enterprises: The case of Malaysia

Micro-enterprises have always been seen as the backbone of the Malaysian economy. It is a vibrant and dynamic sector and is recognized as a "driver of economic growth" in the country. The sector is increasingly being judged not only by the products it produces and the profits it generates, but also by how those profits are channeled. Although, micro enterprises are growing and evolving in a different business environment than large enterprises, but the criteria for effective Corporate Social Responsibility (CSR) remain the same. The adoption of CSR is not an option for micro enterprises because they have to address a variety of business issues. Consequently, finding a fit between social responsibility and microenterprises is critical to increase microenterprises' engagement in social commitments. The rise in popularity of waqf practice as a socially responsible model for business entities has piqued the interest of academics and policymakers alike. Waqf not only meets the personal convictions of micro-enterprises, but it is also less costly to adopt as social responsibility, which is viewed as a shared responsibility with greater social impact. Integration of a business model with a religious instrument may instill a philosophy of social responsibility that is appropriate for the reality of a micro-enterprise.. This study discovered that attitudinal motivation (personal motive, societal looking expectations, and uniqueness of waqf), normative influence (religious influence, cultural, social, and ethical context, waqf promotion, and waqf governance), and controllability behavior (easiness of cash-waqf application) influence the intention of micro-enterprises to organize cash-waqf as a social responsibility.