FatwaKedahEndowment (Waqf) & Religious Property
PANDANGAN MENGENAI KERJASAMA PEMBANGUNAN DANA WAKAF TUNAI – KAJIAN BANK MUAMALAT MALAYSIA BERHAD (BMMB)
Can the Kedah Islamic Religious Council cooperate with Bank Muamalat Malaysia Berhad to develop a cash waqf fund?
Short answer
The Kedah State Mufti Department holds that there is no Shariah objection to this cooperation.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Kedah State Mufti Department
- Status
- Opinion (irsyad)
- Series
- Irsyad Al-Hukmi
- Topic
- Endowment (Waqf) & Religious Property
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Kedah State Mufti Department holds that there is no Shariah objection to this cooperation. This view rests on its finding that several related matters are Shariah compliant: the status of cash waqf as waqf, the procedures for managing and disposing of waqf assets, the use of waqf funds for operating and maintenance costs of waqf assets, and the ruling on investing waqf funds. The partnership, named Wakaf Kedah Muamalat, follows the arrangement already implemented in Selangor.
Written in our own words from the original fatwa — check the source before acting on it.
Oleh yang demikian, tiada halangan bagi Majlis Agama Islam Kedah (MAIK) dan Bank Muamalat Malaysia Berhad (BMMB) mengadakan kerjasama pembangunan dana wakaf tunai (Wakaf Kedah Muamalat) sebagaimana yang telah dilaksanakan di Negeri Selangor.
Read the full fatwa on the Kedah website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Kedah State Mufti Department. “PANDANGAN MENGENAI KERJASAMA PEMBANGUNAN DANA WAKAF TUNAI – KAJIAN BANK MUAMALAT MALAYSIA BERHAD (BMMB)”, date not stated. https://ifatwa.kedah.gov.my/wp-content/uploads/2022/08/4-PANDANGAN-MENGENAI-KERJASAMA-PEMBANGUNAN-DANA-WAKAF-TUNAI-–-KAJIAN-BANK-MUAMALAT-MALAYSIA-BERHAD-BMMB.pdf. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/cash-waqf-fund-kedah-bank-muamalat-cooperation/