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FatwaPenangEndowment (Waqf) & Religious Property

CADANGAN UNTUK MENJADIKAN SURAT AKUAN GADAIAN (SAG) YANG DIBELI DI SUYULA PLATFORM SEBAGAI INSTRUMEN KEWANGAN ALTERNATIF KEPADA SIMPANAN TETAP

Can a Surat Akuan Gadaian (SAG) purchased on the Suyula Platform be used as an alternative financial instrument to fixed deposits for cash waqf funds?

Short answer

The Penang State Fatwa Committee did not agree with the proposal to use SAG purchased on the Suyula Platform as an alternative financial instrument to fixed deposits.

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 did not agree with the proposal to use SAG purchased on the Suyula Platform as an alternative financial instrument to fixed deposits. The decision rests on two reasons. First, there is no guarantee on the source of investment that uses cash waqf funds. Second, the proposal contradicts the original purpose for which cash waqf is implemented.

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

Tidak bersetuju dengan Cadangan Untuk Menjadikan Surat Akuan Gadaian (SAG) Yang Dibeli Di Suyula Platform Sebagai Instrumen Kewangan Alternatif Kepada Simpanan Tetap berdasarkan alasan berikut:

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 UNTUK MENJADIKAN SURAT AKUAN GADAIAN (SAG) YANG DIBELI DI SUYULA PLATFORM SEBAGAI INSTRUMEN KEWANGAN ALTERNATIF KEPADA SIMPANAN TETAP”, 15 February 2023. http://efatwa.penang.gov.my/fatwa_details.php?fatwaid=1578. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/sag-suyula-platform-alternative-fixed-deposit-waqf/