Waqf is a financial charitable institution established by withholding property to eternally provide for various socio-economic needs, depending on the choice and condition made by the founder. Through its financial support it provides for activities such as sheltering and feeding the poor and needy, providing education and promoting health care, providing jobs, facilitating businesses, constructing highways and linking countries and providing basic infrastructure. Waqf is not a new concept, however its recent emergence in its movable form of cash and corporate Waqf, and the opportunities this presents, have caught the attention of financial institutions and corporates alike.
KEY LEARNING OUTCOMES
Understanding the administration, governance and management of Waqf
Providing an overview of the Shariah aspect of the institution of Waqf
Discussing the legal framework for the management, governance and administration of Waqf structures and arrangements
Assessing the emergence of various Waqf structures and models
Identifying opportunities for corporate Waqf through Corporate Social Responsibility (CSR)
Agenda
9:00 – 11:00
Session One: Introduction to the Administration,Governance, Shariah and Structuring Issues of Waqf
Discussing the definition of Waqf and Waqf-based products and examining the potential socio-economic role of Waqf
Identifying rules necessary for the validity of Waqf and stipulations for the creation of Waqf
Discussing key Shariah issues of Waqf and endowmentbased finance initiatives and where Shariah compliance issues can arise
Dr Salina Hj. Kassim — Associate Professor, Institute of Islamic Banking and Finance, International Islamic University Malaysia
11:00 – 11:30
Coffee
11:30 – 1:00
Session Two: Examining Various Waqf Structures: Movable Waqf, Cash Waqf and Corporate Waqf
Examining the legitimacy, creation and investment of cash Waqf
Analysing direct & indirect cash Waqf models, Waqf mutual fund and Takaful models
Assessing the definition, legitimacy and governance of corporate Waqf
Examining the structure of corporate Waqf and discussing recent creations of corporate Waqf structures
Effectively administering, managing and governing each Waqf structure
Dr. Mohammad Mahbubi Ali — Research Fellow, International Institute of Advanced Islamic Studies (IAIS) Malaysia
1:00 – 2:00
Lunch
2:00 – 3:30
Session Three: Examining Key Legal Issues and Framework for Waqf
Looking at Waqf from a legal perspective: the key issues
Examining the legal framework for the management, governance and administration of Waqf structures and arrangements
Structuring common Waqf arrangements and the important legal issues that arise
Discussing rules for the classification of Waqf properties
Sharifah Shafika Alsagoff — Partner, Mohamed Ridza & Co
3:30 – 4.00
Coffee
4:00 – 5:00
Session Four: Examining Implementation and Building of a Successful Corporate Waqf A case study
Tuan Syed Alwi Mohd Sultan — Executive Vice President, Strategic Planning, Bank Muamalat Malaysia
