Abstract
Al-mafqud property means the property of a lost person who can not be ascertained status either alive or dead. The question of al-mafqud property has a great implication on the ownership of the property as the property is frozen as a result of being unable to identify the status of its owner and the benefits resulting from this property are also frozen and barred from being enjoyed by its heirs. This situation has led to many problems that are so critical and extremely difficult to solve and harm the society and the nation as a whole. According to the Jabatan Kehakiman Syariah Malaysia (JKSM) and Amanah Raya Berhad, the value of this al-mafqud property reaches 10 billion. Thus, the efforts of the authoritative party should be taken seriously to find a solution to this al-mafqud property. One potential solution is to use a waqf instrument. However, some sharia and civil laws need to be scrutinized and need to be strengthened to assist in the settlement of al-mafqud property. This paper will discuss the potential and challenges of settlement of al-mafqud property through a wakaf instrument. The concept of waqf property whose owner is Allah swt can be the basis for the property of al-mafqud where the property can not be identified with its owner's status then it shall return to Allah swt after a certain legal process and managed by the Trustee, Mutawalli or Nazir who are appointed to benefit the whole society.
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More From: UMRAN - International Journal of Islamic and Civilizational Studies
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