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

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

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Abstract

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.

Item Type: Article (Journal)
Additional Information: 2902/72515
Uncontrolled Keywords: Waqf, Temporary Waqf, Private Retirement Scheme
Subjects: H Social Sciences > HB Economic Theory > HB126.4 Islamic Economics
H Social Sciences > HJ Public Finance > HJ1438 Public Finance In Islam
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Institute of Islamic Banking & Finance (IIiBF)
Depositing User: Dr Azman Mohd Noor
Date Deposited: 11 Jun 2019 08:53
Last Modified: 11 Jun 2019 08:53
URI: http://irep.iium.edu.my/id/eprint/72515

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