FatwaPenangEndowment (Waqf) & Religious Property
CADANGAN STRATEGI PEMBANGUNAN DAN PENGEMBANGAN KE ATAS AGIHAN PELABURAN WAKAF TUNAI SECARA LESTARI WAKAF PULAU PINANG
Is it permissible for Wakaf Pulau Pinang to invest cash waqf for sustainable development and growth, and what are the conditions?
Short answer
The Penang State Fatwa Committee decided that the proposed cash waqf investment strategy of Wakaf Pulau Pinang is permissible.
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 decided that the proposed cash waqf investment strategy of Wakaf Pulau Pinang is permissible. The permission is conditional: the waqf capital must not decrease, investments must generate consistent and stable income, and they must be Shariah compliant. Management must also give a written guarantee to restore any waqf funds lost and obtain 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.
Mesyuarat bersetuju dengan Cadangan Strategi Pembangunan Dan Pengembangan Ke Atas Agihan Pelaburan Wakaf Tunai Secara Lestari Wakaf Pulau Pinang (WPP) dan hukumnya adalah harus dengan syarat pihak WPP melaksanakan kriteria-kriteria berikut:
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 STRATEGI PEMBANGUNAN DAN PENGEMBANGAN KE ATAS AGIHAN PELABURAN WAKAF TUNAI SECARA LESTARI WAKAF PULAU PINANG”, 26 October 2022. http://efatwa.penang.gov.my/fatwa_details.php?fatwaid=1540. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/ruling-cash-waqf-investment-penang-waqf/