Abstract
An Investment Portfolio Strategy for Waqf Assets in Malaysia: A Study At Selected State Islamic Religious Councils
Highlights
The need to develop waqf assets is in accordance with Prophet Muhammad (PBUH)'s suggestion to Umar RA regarding Umar's property in Khaybar (Safiah et al, 2006)
Based on the interviews conducted, the issues of cash waqf asset developments stem from four main issues, which are: 1. Organisational governance structure 2
Lesser attention has been given to the focus and development of the cash waqf itself
Summary
The need to develop waqf assets is in accordance with Prophet Muhammad (PBUH)'s suggestion to Umar RA regarding Umar's property in Khaybar (Safiah et al, 2006). The suggestion covered some indicators for asset preservation, which are tahbis al-asal (sustaining the main waqf asset by controlling and maintaining the donated asset from damaged or lost) and tasbil al-thamarah (distributing the asset's benefit to the beneficiary). Asset development aims to transform unproductive situations into something more productive to achieve expected benefits (Mohammed et al, 2009). Aside from that, the development of waqf asset is in line with the function of economic development, that is, bringing down effects (trickle-down effect). The function of economic development can be further intensified with the endeavours from the management to achieve asset sustainability
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