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FatwaPenangEndowment (Waqf) & Religious Property

CADANGAN MELABURKAN SEBAHAGIAN DANA WAKAF TUNAI DALAM PELABURAN JANGKA PENDEK SEBAGAI PEMBIAYA/PEMBELI SURAT AKAUN GADAIAN (SAG) PENGENDALI AR-RAHNU DAN CADANGAN UNTUK MENJADIKAN SURAT AKUAN GADAIAN (SAG) YANG DIBELI DI SUYULA PLATFORM SEBAGAI INTRUMEN KEWANGAN ALTERNATIF KEPADA SIMPANAN TETAP

Is it permissible for Wakaf Pulau Pinang to invest cash waqf funds in buying Pawn Receipts (SAG) through the Suyula platform?

Short answer

The Penang State Fatwa Committee ruled that using cash waqf funds by Wakaf Pulau Pinang to buy SAG through the Suyula platform is permissible.

PenangFatwa committee decision

A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.

Authority
Penang State Mufti Department
Date
Status
Fatwa committee decision
Series
Keputusan Fatwa Negeri Pulau Pinang (e-Fatwa)
Topic
Endowment (Waqf) & Religious Property

No evidence of gazettement in the source — this is not a gazetted fatwa.

Summary

The Penang State Fatwa Committee ruled that using cash waqf funds by Wakaf Pulau Pinang to buy SAG through the Suyula platform is permissible. This permission is short term, pending the purchase of permanent waqf assets, which should be given priority. Conditions include preserving the waqf capital, Shariah-compliant investments that generate stable income, a written guarantee from management to cover any losses, and approval from the State Islamic Religious Council and the Fatwa Committee for each investment.

Written in our own words from the original fatwa — check the source before acting on it.

Penggunaan dana wakaf tunai oleh Wakaf Pulau Pinang (WPP) untuk membeli Surat Akuan Gadaian (SAG) melalui platform Suyula adalah harus.

Excerpt from the original fatwa · Penang

Read the full fatwa on the Penang website (new tab)

How to cite

Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.

Penang State Mufti Department. “CADANGAN MELABURKAN SEBAHAGIAN DANA WAKAF TUNAI DALAM PELABURAN JANGKA PENDEK SEBAGAI PEMBIAYA/PEMBELI SURAT AKAUN GADAIAN (SAG) PENGENDALI AR-RAHNU DAN CADANGAN UNTUK MENJADIKAN SURAT AKUAN GADAIAN (SAG) YANG DIBELI DI SUYULA PLATFORM SEBAGAI INTRUMEN KEWANGAN ALTERNATIF KEPADA SIMPANAN TETAP”, 12 September 2023. http://efatwa.penang.gov.my/fatwa_details.php?fatwaid=1606. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/cash-waqf-funds-invest-pawn-receipts-suyula/