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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| Format: | Article |
| Language: | English |
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IIUM Institute of Islamic Banking and Finance
2019
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| Online Access: | http://irep.iium.edu.my/72515/ http://irep.iium.edu.my/72515/1/72515_Temporary%20Waqf%20Model.pdf |
| _version_ | 1848787625098346496 |
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| author | Jafri, Faliq Asraf Mohd Noor, Azman |
| author_facet | Jafri, Faliq Asraf Mohd Noor, Azman |
| author_sort | Jafri, Faliq Asraf |
| building | IIUM Repository |
| collection | Online Access |
| 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. |
| first_indexed | 2025-11-14T17:27:54Z |
| format | Article |
| id | iium-72515 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T17:27:54Z |
| publishDate | 2019 |
| publisher | IIUM Institute of Islamic Banking and Finance |
| recordtype | eprints |
| repository_type | Digital Repository |
| 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 |
| 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 |
| title | 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_short | 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 |
| topic | HB126.4 Islamic Economics HJ1438 Public Finance In Islam |
| 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 |