期刊名称：International Review of Social Sciences and Humanities
印刷版ISSN：2250-0715
电子版ISSN：2248-9010
出版年度：2013
卷号：6
期号：1
页码：1-7
出版社：International Review of Social Sciences and Humanities
摘要：This paper explains the concept of cash waqf and its implementation throughout the world. Since its implementation during the Ottoman Empire in the early fifteenth-century, cash waqf has been debated and discussed due to its concept, which is unlike other waqf instruments. The concept of inalienability and perpetuity has made people question the implementation of cash waqf because of certain legal constraints. Waqf properties are inalienable as they have to remain waqf in perpetuity, consequently, waqf institutions cannot use them as collateral with the financiers because of the perpetuity and inalienability concept. When the cash waqf was given the green light in 2007 by the Malaysian Fatwa Council, various financial mechanisms were developed to promote cash waqf. These reveal its potential in developing Islamic economic growth. A variety of cash waqf or liquid assets may be selected as an ideal financial mechanism. The cash waqf has encouraged all levels of people to participate and has been a successful practice in Middle Eastern countries like Egypt and Kuwait, as well as Bangladesh and our neighboring country, Indonesia. Various models and management structures have been justified to commercialize the cash waqf. The commitment from the authority, scholars and people could increase the capacity of the cash waqf in developing the ummah (society).
