research on salam contract
Problem Statement
After discussing about the founder of Waqf, people should know that waqf can only be practice by Muslim. It is prove by Zuraidah, Norhidayah and Rabitah (2011) that stated:
In Malaysia, Waqf Management of Selangor which is managed by MAIS has introduced a scheme called Selangor Share Scheme with the purpose to encourage the public to purchase the share units which are offered by MAIS and to waqf the certificates in the name of Allah S.W.T. This scheme is established based on Section 17 Waqf Enactment (Selangor) 1999 with the main purpose of taking care of the importance and welfare of the Muslims. Collection from this scheme is put into a Cash Waqf Group Fund, a group of money collected from income received from waqf properties. This scheme is open to everyone who is a Muslim (pp.562).
Literature review
The following discussion is organized by taking into consideration the founder of waqf in Islamic view. From the literature review, it discusses the one who can practice waqf and also the difference between waqf and trustee. Based on Muhammad Yusuf Saleem (2011), the waqif (founder or creator of waqf) should be a Muslim who has the complete legal capacity:
Be an adult (age of majority)
Be sound of mind
Capable of handling financial affairs
Not under interdiction for bankruptcy According to Gaudiosi, Monica M. (1988), the only significant distinction between the Islamic Waqf and English trust was "the express or implied reversion of the Waqf to charitable purposes when its specific object has ceased to exist"
Maqasid Shariah
In regard to property, which is very beneficial and necessary to the human life, divine law facilitates all lawful means for its acquisition, and secures it by defending the right of ownership through penalizing theft. In the Islamic view if we have much wealth, we should pay Zakah, sadaqah or waqf our wealth to make sure the income that we earn will get a blessing from Allah.
Generally, Islam has permitted the
After discussing about the founder of Waqf, people should know that waqf can only be practice by Muslim. It is prove by Zuraidah, Norhidayah and Rabitah (2011) that stated:
In Malaysia, Waqf Management of Selangor which is managed by MAIS has introduced a scheme called Selangor Share Scheme with the purpose to encourage the public to purchase the share units which are offered by MAIS and to waqf the certificates in the name of Allah S.W.T. This scheme is established based on Section 17 Waqf Enactment (Selangor) 1999 with the main purpose of taking care of the importance and welfare of the Muslims. Collection from this scheme is put into a Cash Waqf Group Fund, a group of money collected from income received from waqf properties. This scheme is open to everyone who is a Muslim (pp.562).
Literature review
The following discussion is organized by taking into consideration the founder of waqf in Islamic view. From the literature review, it discusses the one who can practice waqf and also the difference between waqf and trustee. Based on Muhammad Yusuf Saleem (2011), the waqif (founder or creator of waqf) should be a Muslim who has the complete legal capacity:
Be an adult (age of majority)
Be sound of mind
Capable of handling financial affairs
Not under interdiction for bankruptcy According to Gaudiosi, Monica M. (1988), the only significant distinction between the Islamic Waqf and English trust was "the express or implied reversion of the Waqf to charitable purposes when its specific object has ceased to exist"
Maqasid Shariah
In regard to property, which is very beneficial and necessary to the human life, divine law facilitates all lawful means for its acquisition, and secures it by defending the right of ownership through penalizing theft. In the Islamic view if we have much wealth, we should pay Zakah, sadaqah or waqf our wealth to make sure the income that we earn will get a blessing from Allah.
Generally, Islam has permitted the