According to Islamic Jurists, Waqf can be classified in three main categories, which are based on timing, purpose and object. Based on timing of Waqf, most of them agreed that it must be permanent but, according to Malikiyyah, it also could be temporary (Al-Zuhayli, 2000). In term of the purpose of the Waqf, the Waqf could be made to the family of Al-Waqif (donour) or to the public for the charitable purposes whether it coul...
... middle of paper ...
...ncertainty will exist when it is start expressing its doubt to any possible under typical of Wakalah. So, the compensation contract will be applied to overcome this kinds of problem on uncertainty in Takaful contract. In addition to the relation of agent with Waqf, the firm also has a relation of Mudarib, when it invests the Waqf funds as Mudarib.
Mahmud Saedon Awang Othman, Peranan Wakaf di dalam Pembangunan Ummah (translated: The Role of Wakaf in the Development of the Muslim Society), Al-Ahkam, Jilid 6, Dewan Bahasa dan Pustaka, Kuala Lumpur, 1998, pp158-159;
Syed Khalid Rashid, Muslim Law, Eastern Book Company, Lucknow, 1996, chapter IX.
Abdul Ghafar Ismail. 2010. Money, Islamic Banks and the Real Economy. Cengage Learning Asia Pte Ltd. Pg. 78-79.
Al-Misri, Rafiq Yunus. 2005. Fiqh Al-Muamalat Al-Maliyyah. Damascus: Dar Al-Qalam.
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