<![CDATA[Waqf asset management in Indonesia faces significant challenges, particularly in regions where land legality is ambiguous. Communal lands, which often lack formal ownership documentation, complicate the legitimacy and administrative compliance of waqf assets. These issues result in unrecorded waqf assets in financial statements and acquisition reports, undermining transparency and accountability. This study aims to examine the governance challenges faced by nazhir in managing waqf assets located on communal land, with a focus on identifying legal and administrative barriers and proposing practical solutions. A qualitative case study approach was employed in Muslim minority communities in Bali. Data were collected through direct observation and in-depth interviews, and analyzed using descriptive and narrative methods. The findings reveal that nazhir are unable to formally recognize and report waqf assets on communal land due to the absence of policy guidelines and legal frameworks that accommodate such conditions. This gap hinders the application of Islamic corporate governance principles, especially in terms of disclosure and transparency. The study contributes to the discourse on waqf governance by highlighting real-world complexities in asset legitimacy and proposing risk-minimization strategies, such as encouraging local governments to issue temporary management policies. These insights offer valuable guidance for policymakers and waqf practitioners in developing inclusive and context-sensitive governance frameworks. ]]>
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