The use of islamic real estate investment trust (I-REITs) as a contemporary instrument in developing Waqf assets: potential structure, issues and challenges

Hasan, Aznan and Sulaiman, Syahnaz (2016) The use of islamic real estate investment trust (I-REITs) as a contemporary instrument in developing Waqf assets: potential structure, issues and challenges. Intellectual Discourse, 24. pp. 521-520. ISSN 0128-4878 E-ISSN 2289-5639

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Abstract

The primary objective of this paper is to explore the potential of Islamic Real Estate Investment Trusts (I-REITs) as an effective instrument for financing waqf development activities. This study employs legal research methodology, (the data used were largely library-based and documentary in nature), in which opinions of jurists, classical and contemporary are analysed in discussing the potential of I-REITs as a mechanism to develop waqf assets. Besides, several resolutions issued by relevant market authorities are referred to in this study. The study concludes that despite several challenges, with proper implementation, I-REITs may be adopted by a waqf institution as a mechanism to finance the development of their waqf assets. The novelty of this paper lies in the proposed structure of I-REITs, which can be a useful reference for the policy-makers and REITs issuers in establishing an enabling environment within which waqf I-REITs can potentially operate. Therefore, this study hopes to shed some light on the potential of waqf I-REIT to become an asset class to provide diversity for the public to give waqf.

Item Type:	Article (Journal)
Additional Information:	2241/55704
Uncontrolled Keywords:	Waqf, Islamic Real Estate Investment Trust (I-REITs), Social finance, Islamic finance, Malaysia
Subjects:	H Social Sciences > HJ Public Finance K Law > KBP Islamic Law K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Aznan Hasan
Date Deposited:	12 Apr 2017 10:21
Last Modified:	12 Apr 2017 10:21
URI:	http://irep.iium.edu.my/id/eprint/55704

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