Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal

Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal

Waqf is one of the important instrument in Muslim’s economic development. Waqf properties which are properly managed will generate positive returns to the beneficiary. However, majority of the assets are still immovable and tangible in nature. This sparks off a liquidity problem in developing and ma...

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Main Authors: Jafri, Faliq Asraf, Mohd Noor, Azman
Format: Article
Language:English
Published: IIUM Institute of Islamic Banking and Finance 2019
Subjects:
HB126.4 Islamic Economics
HJ1438 Public Finance In Islam
Online Access:http://irep.iium.edu.my/72515/
http://irep.iium.edu.my/72515/
http://irep.iium.edu.my/72515/1/72515_Temporary%20Waqf%20Model.pdf
id iium-72515
recordtype eprints
spelling iium-725152020-02-21T03:04:38Z http://irep.iium.edu.my/72515/ Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal Jafri, Faliq Asraf Mohd Noor, Azman HB126.4 Islamic Economics HJ1438 Public Finance In Islam Waqf is one of the important instrument in Muslim’s economic development. Waqf properties which are properly managed will generate positive returns to the beneficiary. However, majority of the assets are still immovable and tangible in nature. This sparks off a liquidity problem in developing and maintaining those assets which leads to number of lands being neglected. This article aims to solve this issue by applying the concept of temporary Waqf to Islamic Private Retirement Scheme (PRS) in Malaysia. This article suggests three mechanisms to adopt this concept in PRS namely waqf by member in the form of units or in the form of value of the units or having PRS Provider to dedicate specific numbers of units for Waqf purpose. IIUM Institute of Islamic Banking and Finance 2019-08-25 Article PeerReviewed application/pdf en http://irep.iium.edu.my/72515/1/72515_Temporary%20Waqf%20Model.pdf Jafri, Faliq Asraf and Mohd Noor, Azman (2019) Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal. Journal of Islamic Finance, 8 (1). pp. 23-35. ISSN 2289-2109 E-ISSN 2289-2109 https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/329/149
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
topic HB126.4 Islamic Economics
HJ1438 Public Finance In Islam
spellingShingle HB126.4 Islamic Economics
HJ1438 Public Finance In Islam
Jafri, Faliq Asraf
Mohd Noor, Azman
Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal
description Waqf is one of the important instrument in Muslim’s economic development. Waqf properties which are properly managed will generate positive returns to the beneficiary. However, majority of the assets are still immovable and tangible in nature. This sparks off a liquidity problem in developing and maintaining those assets which leads to number of lands being neglected. This article aims to solve this issue by applying the concept of temporary Waqf to Islamic Private Retirement Scheme (PRS) in Malaysia. This article suggests three mechanisms to adopt this concept in PRS namely waqf by member in the form of units or in the form of value of the units or having PRS Provider to dedicate specific numbers of units for Waqf purpose.
format Article
author Jafri, Faliq Asraf
Mohd Noor, Azman
author_facet Jafri, Faliq Asraf
Mohd Noor, Azman
author_sort Jafri, Faliq Asraf
title Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal
title_short Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal
title_full Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal
title_fullStr Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal
title_full_unstemmed Temporary Waqf model for Islamic private retirement scheme in Malaysia: a proposal
title_sort temporary waqf model for islamic private retirement scheme in malaysia: a proposal
publisher IIUM Institute of Islamic Banking and Finance
publishDate 2019
url http://irep.iium.edu.my/72515/
http://irep.iium.edu.my/72515/
http://irep.iium.edu.my/72515/1/72515_Temporary%20Waqf%20Model.pdf
first_indexed 2023-09-18T21:42:44Z
last_indexed 2023-09-18T21:42:44Z
_version_ 1777413247873318912

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