FatwaPenangTransactions & Finance
MELABUR WANG LEBIHAN ZAKAT (TAWAQQUF) DALAM PELABURAN SIMPANAN TETAP AL-MUDHARABAH BANK ISLAM MALAYSIA BERHAD.
May surplus zakat funds (Tawaqquf) be invested in a Al-Mudharabah fixed deposit at Bank Islam Malaysia Berhad?
Short answer
The Fatwa Committee approved investing Tawaqquf funds in an Al-Mudharabah fixed deposit at Bank Islam Malaysia Berhad, as it is considered more secure and safe.
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
- Status
- Status not stated
- Series
- Himpunan Keputusan Mesyuarat Jawatankuasa Fatwa 2006–2010 (buku)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Fatwa Committee approved investing Tawaqquf funds in an Al-Mudharabah fixed deposit at Bank Islam Malaysia Berhad, as it is considered more secure and safe. The RM20,000,000 of Tawaqquf funds is to be divided into several smaller amounts for investment. Profits from the investment must be returned to the Tawaqquf account.
Written in our own words from the original fatwa — check the source before acting on it.
Meluluskan bahawa wang Tawaqquf boleh dilaburkan ke dalam pelaburan simpanan tetap Al-Mudharabah di Bank Islam Malaysia Berhad, kerana ianya lebih terjamin dan selamat.
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. “MELABUR WANG LEBIHAN ZAKAT (TAWAQQUF) DALAM PELABURAN SIMPANAN TETAP AL-MUDHARABAH BANK ISLAM MALAYSIA BERHAD.”, date not stated. https://mufti.penang.gov.my/index.php/awam/fatwa-1/himpunan-fatwa#buku-himpunan-keputusan-fatwa-negeri-pulau-pinang-tahun-2006-2010/32. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/investing-surplus-zakat-funds-mudharabah-deposit/