FatwaJohorEndowment (Waqf) & Religious Property
PERMOHONAN FATWA CADANGAN ISTIBDAL WAQAF SAHAM TERSENARAI WANCORP
Is it permissible to carry out istibdal on the waqf shares of WANCORP listed on the stock market?
Short answer
The Johor State Fatwa Committee ruled that waqf property in WANCORP whose ain mauquf takes the form of shares may be liquidated.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Johor State Mufti Department
- Date
- Status
- Fatwa committee decision
- Series
- Fatwa Negeri Johor
- Topic
- Endowment (Waqf) & Religious Property
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Johor State Fatwa Committee ruled that waqf property in WANCORP whose ain mauquf takes the form of shares may be liquidated. This is permitted on condition that, in the view of the special nazir, it leads to better security and profit. Liquidation may be done through istibdal into property such as industrial, commercial, residential and plantation assets, or through Islamic banking, takaful and the Islamic capital market.
Written in our own words from the original fatwa — check the source before acting on it.
Dengan syarat pada pandangan nazir khas ianya membawa kepada keselamatan dan keuntungan yang lebih baik, maka harus hukumnya harta wakaf dalam WANCORP yang ain mauqufnya berbentuk saham dicairkan melalui pendekatan:-
Read the full fatwa on the Johor website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Johor State Mufti Department. “PERMOHONAN FATWA CADANGAN ISTIBDAL WAQAF SAHAM TERSENARAI WANCORP”, 26 March 2013. https://said.johor.gov.my/perkhidmatan/paparan_detail_fatwa.php?id=1023. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/istibdal-waqf-listed-wancorp-shares/