IIUM Repository

Proposed models for unit trust waqf and the parameters for their application

Sulaiman, Syahnaz and Hasan, Aznan and Mohd Noor, Azman and Ismail, Muhd Issyam and Noordin, Nazrul Hazizi (2019) Proposed models for unit trust waqf and the parameters for their application. ISRA International Journal of Islamic Finance, 11 (1). pp. 62-81. ISSN 2289-4365

PDF - Published Version
Download (402kB) | Preview
PDF (SCOPUS) - Supplemental Material
Download (415kB) | Preview
PDF (WOS) - Supplemental Material
Download (301kB) | Preview


Purpose – This paper aims to present the viability of unit trust waqf (Islamic endowment) as an alternative asset class for waqf creation. Design/methodology/approach – This paper starts with the conceptual exploration of the literature in the areas of waqf. The sources of the literature cover authentic sources of the Qurʾan and hadīth, as well as secondary sources such as books, journal articles and online resources. Findings – This paper provides the conceptual framework of five models of unit trust waqf and their investment management parameters. Originality/value – The novelty of this paper lies in its attempt to highlight the importance of waqf investment strategy in ensuring sustainable returns for waqf. It does so by introducing the conceptual models of unit trust waqf as viable mechanisms to pool more cash waqf from individual investors. The sustainability of the capital waqf assets in the form of unit trusts is maintained through the parameters for its application proposed towards the end of the paper

Item Type: Article (Journal)
Additional Information: 2241/78930
Uncontrolled Keywords: Malaysia, Islamic finance, Waqf, Capital market, Endowment, Unit trust
Subjects: H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
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: Mrs. Zalirawati Anita Jusoh
Date Deposited: 20 Feb 2020 17:01
Last Modified: 03 Jan 2024 10:24
URI: http://irep.iium.edu.my/id/eprint/78930

Actions (login required)

View Item View Item


Downloads per month over past year