Page 27 - Obligatory Zakat Made Easy

MAIWP CASH WAQF

Definition
Waqf is any property in which the donor retains the
right to the property through any transaction,
inheritance, hibah, and will, in addition to maintaining
its physical resources, to bring the donor closer to Allah
S.W.T

Introduction

MAIWP Cash Waqf (Wakaf Tunai MAIWP) is a program
that donates cash to the Federal Territory Islamic
Council (MAIWP) as a waqf trust holder. The recipient
maintains the principal money.

National Fatwa Committee Council for the 77th
Malaysia Islamic Affairs convened on 10-12 April 2007
has stated that waqf in cash is allowed in Islam.

Cash received by the MAIWP Waqf Center will be
collected and exchanged into fixed properties known
as istibdal/badal. Benefits of the cash outcome will be
used for the welfare and development of the ummah.

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