A PROPOSAL FOR A NEW COMPREHENSIVE WAQF LAW IN MALAYSIA – Muhammad Tahir Sabit Hj. Muhammad
A PROPOSAL FOR A NEW COMPREHENSIVE WAQF LAW IN MALAYSIA – Muhammad Tahir Sabit Hj. Muhammad
Abstract
Waqf assets, if regulated properly and managed according to sound principles, may grow in trillions which will certainly have enormous positive impact on the poor and marginalised of a given society. Keeping in mind the potential of waqf institutions in enhancing the economic development of the society, two issues should be the focus of attention of the policy makers: reforming the management style of waqf organisation and the enactment of laws that provides an environment conducive for the growth of waqf activities. This paper touches on both the issues.
A brief review of the existing waqf laws calls for an urgent reform of these laws. This is needed even though recently some laws have been improved on compared to those passed in the 20th century. The Negeri Sembilan Enactment, 2005 followed by that of Malacca are the examples which are quite detailed. Nevertheless, these laws still lack rules that can provide for effective organisational administration, appropriate assets management, and innovative Shariah compliant financial mechanism that can facilitate waqf institutions to develop and revive their properties, or manage their assets as required under fiqh for the interest of waqf and its beneficiaries.
This paper proposes some important amendments to the aforementioned contemporary laws.
This paper is based on the appraisal of the existing law which proposes a comprehensive code of waqf law that deals with full uniform legal framework for organisational structure of waqf institutions, legal personality of waqf, the creation of waqf, its validity, its registration, administration, management, and protection of waqf property throughout Malaysia.