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Protecting zakat and waqaf assets through takaful

Mohd Fauzi, Puteri Nur Farah Naadia and Abdul Rashid, Khairuddin and Hasan, Sharina Farihah and Ahmad Sarkawi, Azila and Aripin, Srazali (2015) Protecting zakat and waqaf assets through takaful. In: 3rd ASEAN International Conference on Islamic Finance (AICIF 2015), Semarang, Indonesia.

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Abstract

In Islam, the fundamental instruments to safeguard welfare of Muslims are zakat and waqaf. Zakat and waqaf instruments to facilitate helping needy Muslims that would be inevitably involve management and assets i.e. money, land as well as properties. In the current economy climate, these assets; if are not manage properly could expose to variety of risks. Such risks require protections and conventionally, such protections are provided under variety of insurance schemes. In the Shariah, the protections of risks are allowed through the concept of takaful. This paper aims to discuss the activities of zakat and waqaf that may face risks and should consider to apply protection through takaful. Consequently, there is an opportunity for zakat-waqaf-takaful to collaborate. The study involves i) desk research and ii) discussions with experts in the field of fiqh mua’malat and procurement. The outcome of the study is to generate the idea on the possibility of two fundamental instruments, i.e. zakat and waqaf with takaful to collaborate. Discussions on the collaboration are herein proposed in the paper.

Item Type: Conference or Workshop Item (Slide Presentation)
Additional Information: Author can be contacted at puteri@iium.edu.my 7388/49441
Uncontrolled Keywords: zakat, waqaf, takaful, protection, assets
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance
H Social Sciences > HG Finance > HG8011 Insurance
K Law > KBP Islamic Law
T Technology > TH Building construction
T Technology > TH Building construction > TH9025 Protection of buildings. Including protection from dampness, fire, burglary
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Architecture and Environmental Design > Department of Quantity Surveying
Depositing User: Dr. Puteri Nur Farah Naadia Mohd Fauzi
Date Deposited: 28 Jan 2019 10:17
Last Modified: 28 Jan 2019 10:17
URI: http://irep.iium.edu.my/id/eprint/49441

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