FatwaSelangorEndowment (Waqf) & Religious Property
Fatwa Pelaksanaan Wakaf Saham Dan Keuntungan Saham Di Kalangan Syarikat Korporat
Can corporate companies endow shares and share profits as waqf, and how is it carried out?
Short answer
The Selangor Fatwa Committee rules that waqf of shares and share profits among corporate companies is permissible provided it complies with Sharia.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Selangor State Mufti Department
- Status
- Gazetted
- Series
- Keputusan Fatwa Diwartakan
- Topic
- Endowment (Waqf) & Religious Property
Gazette evidence in the source: Sel. P.U. 24
Summary
The Selangor Fatwa Committee rules that waqf of shares and share profits among corporate companies is permissible provided it complies with Sharia. The company must run Sharia-compliant business operations, the shares must come from lawful sources, and endowing profits in part or in full requires the consent of all shareholders. The shares or profits are converted to cash and handed to the Selangor Waqf Corporation, with 30 percent allocated to fisabilillah and 70 percent to investment and development.
Written in our own words from the original fatwa — check the source before acting on it.
Pelaksanaan wakaf saham dan keuntungan saham di kalangan syarikat korporat yang mematuhi hukum syarak adalah harus
Read the full fatwa on the Selangor website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Selangor State Mufti Department. “Fatwa Pelaksanaan Wakaf Saham Dan Keuntungan Saham Di Kalangan Syarikat Korporat”, date not stated. https://www.muftiselangor.gov.my/2023/10/28/fatwa-pelaksanaan-wakaf-saham-dan-keuntungan-saham-di-kalangan-syarikat-korporat/. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/ruling-on-corporate-share-waqf-selangor/