Isu Pembangunan Wakaf Menggunakan Struktur Amanah Pelaburan Hartanah Islam di Malaysia: Satu Tinjauan

  • Syahnaz Sulaiman Jabatan Kemajuan Islam Malaysia

Abstract

This paper will discuss one of the mechanisms for developing waqf assets based on contemporary financial instrument structure, namely the Islamic Real Estate Investment Trust (I-REIT). Previous studies have shown that the I-REIT has the pontential of being developed into a mechanism for waqf asset in Malaysia. However, its implementation has been without issues and problems. Hence this prelimenary study offers an insight into the issues related to the development of waqf properties based on the I-REIT within the context of Malaysia. Library research is the main method of collecting data and document perusal and interviews were carried out to inquire into the relevant theories that determine the status and position of the I-REIT as an Islamic compliant vehicle. It is hoped that the findings of this study will firstly, pave the way for the procurement of the much needed Islamic compliant waqf funds and secondly, develop a system of best practices and good and effective governance to increase the confidence of Muslim to waqf.


Keywords: waqf, waqf assets, development, Islamic Real Estate Investment trust (I-REIT)

References

Abi al-Husayn Muslim bin al-Hujjaj al-Qushayri, 1997. Sahih Muslim, Kitab alWasiyyah. No. hadith 1631. Jilid 3. Kaherah: Dar al-Hadith.

Abu Bakar Manat, "Isu-isu Semasa Berhubung Pembangunan Tanah Wakaf" dlm. Jurnal Pengurusan JAWHAR, Jil., Bil.1, hlm. 53-71, 2007.

Abu Zuhrah, 1972. Muhadarat fi al-Waqf. Kaherah: Dar al-Fikr.

Ahmad Saifuddin bin Hj Md Tahir, Penolong Pengurus Kanan, Bahagian Baitulmal, Majlis Agama Islam Wilayah Persekutuan. Temu bual pada 2 Februari 2012.

Al-'Aqar KPJ REIT, http://mystictune.com/alaqar/Al-Aqar05.07.10/index-1.html, 17 Februari 2012.

Al-Hadharah Boustead REIT, http://www.al-hadharahboustead.com.my/overview. html, 17 Februari 2012.

Al-Qaradawi, Yusuf ,1997. Fiqh al-Zakat. Jilid 1. Beirut: Muassasah al-Risalah.

Al-Zuhayli, Wahbah, 1987. Al-Wasaya wa al-Waqf fi al-fiqh al-Islamiy. Damsyik: Dar al-Fikr.

Alston, Lee J. & Mueller Bernardo, 2008. "Property Rights and the State" dlm. Menard, Claude, Claude dan Shirley, Mary M.(ed.), Handbook for New Institutional Economics. Germany: Springer.

Aminah Mohsin dan Sabit, Mohammad Tahir Mohammad, 2011. "Weaknesses of Current Capital Raising, Financing, and Investment Methods of Awqaf (Islamic Trusts)". Kertas kerja 2011 International Conference on Social Science and Humanity, International Proceedings of Economics Development Research (IPEDR), Bil 5. Singapore: IACSIT Press.

Anan C. Mohd., 2012. "Pembangunan Wakaf-Pengalaman Malaysia?" Kertas kerja Seminar Wakaf Serantau di Hotel Sunway Putra, Kuala Lumpur, hlm. 5-7, 4-5 September 2012.

Asmak Ab Rahman & Wan Marhaini Wan Ahmad, "The Concept of Waqf and Its Application in an Islamic Insurance Product: The Malaysian Experience" dlm. Arab Law Quarterly 25, hlm. 203-19, 2011.

Atasya Osmadi, 2010. "The Malaysian Reit Development and Their Role in a Portfolio". Tesis Ijazah Doktor Falsafah, University of Western Sydney.

Asmak Ab. Rahman, "Peranan Wakaf dalam Pembangunan Ekonomi Umat Islam dan Aplikasinya di Malaysia" dlm. Jurnal Syariah 17:1, hlm. 136-44, 2009.

AXIS REIT http://www.axis-reit.com.my/ 17 Februari 2012.

Basha, Muhammad Qadri, 2006. Qanun al'Adl wa al-Ansaf fi al-qada' 'ala Mushklilat al-waqf. Kaherah. Dar al-Salam.

Bursa Malaysia, 2011. "Why Invest in REITs?" dlm. http://www.bursamalaysia. com/website/bm/media_centre/Events/download/Inv_Know_Sunway130811.
pdf, 28 Mei 2012.

Chapra, M. Umer, "Ibn Khaldun's Theory of Development: Does It Help Explain the Low Performance of The Present-Day Muslim World?" dlm. Journal of Socio-Economics 37:2, hlm. 836-63, April 2008.

Che, Lijian and Mills, Thomas I, "Global Real Estate Investable Universe Continues to Expand and Develop" dlm. Newell, Graeme and Sieracki , Karen (eds.), Global Trends in Real Estate Finance. Melbourne: Blackwell Publishing Ltd., hlm. 3-18, 2010.

Dahniar Abdul Rahman, Timbalan Pengurus, Waqf An-Nur Corporation (WANCorp). Temu bual pada 25 Mei 2012.

Dasrol Jaapar, Pengurus Pelaburan, Maybank Investment. Temu bual pada 23 Mac 2012.

Daza, Jose Rigoberto Parada, "Economy of Non Profit Organizations: Charities and Donations, International" dlm. Research Journal of Finance and Economics Bil. 52, hlm. 92, 2010.

Enakmen Wakaf (Melaka) 2005.

Enakmen Wakaf (Negeri Sembilan) 2005.

Enakmen Wakaf (Negeri Selangor) 1999.

Engku Rabiah Adawiah Engku Ali, "Redefining Property and Property Rights in Islamic Law of Contracts" dlm. Jurnal Syariah 11:33, hlm. 47-60, 2003.

Fauziah Mohd Noor, 2011. "Wakaf Delivering System in Malaysia with Special Reference to Jabatan Wakaf, Zakat dan Hai (JAWHAR) dan Yayasan Wakaf Malaysia. Kertas kerja Seminar Langkawi Islamic Finance and Economics International Conference (LIFE 3), Islamic Banking and Finance: Waqaf, Zakat and Sadaqah as Community Empowerment and Strategies for the Economic Transformation of the Ummah di Langkawi, 29-31 Oktober 2011.

Fiqh Academy Journal, 1988. Keputusan No. 5, sesi 4, Jil. 3.

Hairul Suhaimi Nahar dan Hisham Yaacob, "Accountability in the Sacred Context the Case of Management, Accounting and Reporting of a Malaysian Cash Awqaf Institution" dlm. Journal of Islamic Accounting and Business Research 2:2, hlm.87-113, 2011.

Hassan, Abul dan Abdus Shahid, Mohammad, 2010. "Management and Development of the Awqaf Assets". Kertas Kerja Seminar Seventh International Conferencethe Tawhid Epistemology: Zakat and Waqf di Bangi, 6-7 Januari 2010.

Hawkins, Stephen Pengarah Executif, DH Flinders Ltd, Sebuah Syarikat Perunding Korporat Dalam Bidang Hartanah, Perkhidmatan Kewangan Dan Pelaburan Berskala Kecil Di Rantau Asia-Pasifik.Temu bual oleh Wartawan Malaysia Propertynews.Net, "Potential In Islamic REIT", 11 Jun 2011, dlm. http://www. Malaysiapropertynews.Net/2011/06/Potential-In-Islamic-Reit.Html. Capaian 13 Februari 2012.

Hishamuddin Muhammad Ali et. al, 2006. "Pelaburan Wakaf: Strategi dan Rangka Kerja Perundangan Islam". Kertas Kerja Konvensyen Wakaf Kebangsaan, Kuala Lumpur, 12-14 September 2006.

Hwa, Ting Kien, "How Many REITs Are There in Malaysia?" dlm. The Malaysia Surveyor 44:3, hlm. 33, 2009.

Hukum Berkaitan Pembangunan Tanah Wakaf di Bawah Rancangan Malaysia Ke-Sembilan (RMK-9), Wakaf Wang Tunai, Jabatan Wakaf, Zakat dan Haji, dlm. http://www.e-fatwa.gov.my/fatwa-kebangsaan/hukum-berkaitan-pembangunantanah-wakaf-di-bawah-rancangan-malaysia-ke-sembilan-rmk, 22 Februari 2012.

Ihsan, Hidayatul dan Muhammad Akhyar Adnan, 2009. "Waqf Accounting and the Construction of Accountability". Kertas Kerja Seminar Waqf Laws and Management Conference, International Islamic University Malaysia di Kuala
Lumpur, 20-22 Oktober 2009.

Ihsan, H., Ayedh, A.M. and Shahul-Hameed, M.I., "Towards the Betterment in Management and Transparency of Waqf Institutions: Lessons From The Charity Commission" dlm. Al-Risalah Bil. 6, hlm. 27-46, 2006.

Ihsan, Hidayatul & Ibrahim, Shahul Hameed Mohamed, 2011. "Waqf Accounting and Possible Use Of SORP 2005 To Develop Waqf Accounting Standards" dlm. Kahf, Monzer dan Siti Mashitoh Mahamood (eds.), Essential Readings in Contemporary Waqf Issues. Kuala Lumpur, CERT Publication.

Ihsan, Hidayatul dan Ibrahim, Shahul Hameed Mohamed, "WAQF Accounting and Management in Indonesian WAQF Institutions the Cases of Two WAQF Foundations" dlm. Humanomics 2:4, hlm.252-69, 2011.

Islahi, Abdul Azim, 1996. "Provision of Public Goods - Role of Voluntary (Waqf) Sector in Islamic History" dlm. Mannan, M. A. (ed.), Financing Development in Islamic Economics. Jeddah: IRTI/IDB.

Jabatan Wakaf Zakat dan Haji http://www.jawhar.gov.my/index.php option=com_content&view=article&id=66&Itemid=60&lang=ms, 26 Januari 2012.

Joseph T.L. Ooi And Neo Poh Har, 2010. "Asian REIT: Playing The Yield Game" dlm. Newell, Graeme and Sieracki , Karen (eds.), dlm. Global Trends in Real Estate Finance. Melbourn: Blackwell Publishing Ltd., hlm. 64-81.

Kahf, Monzer, 1998. "Financing the Development of Awqaf Property". Kertas Kerja Seminar Development of Awqaf di Kuala Lumpur, 2-4 March, 1998.

Kahf, Monzer, 2003. "The Role of Waqf in Improving the Ummah Welfare". Kertas Kerja Seminar Waqf as a Private Legal Body di Indonesia, 6-7 Januari 2003.

Kahf, Monzer, 2011. "Waqf and Its Sociopolitical Aspects" dlm. Kahf, Monzer dan Siti Mashitoh Mahamood, (ed.), Essential Readings in Contemporary Waqf Issues. Kuala Lumpur, CERT Publication.

Kahf, Monzer (t.t), Waqf a quick overview, http://monzer.kahf.com/papers/english/WAQF_A_QUICK_OVERVIEW.pdf, 22 Februari 2012.

Kamarudin Ngah, 1992. Isu Pembangunan Tanah Wakaf. Kuala Lumpur: Dewan Bahasa dan Pustaka.

Majd al-Din al-Firuzabidi,1987. al-Qamus al-Muhit. c. 2, Beirut: Muassasah alRisalah, hlm. 1368.

Laporan Tahunan Johor Corporation 2010. http://www.JCorp.com.my/annualreports-19.aspx.

Md. Nurdin Ngadimon, 2009. "Memperkasa Peranan Baitulmal Menerusi Instrumen Pasaran Modal Islam". Prosiding Konvensyen Baitulmal Kebangsaan 2009, Baitulmal: Masihkah Relevan, Putrajaya: JAWHAR, 24-25 Jun 2009.

Md. Nurdin Ngadimon, 2011."Transformasi Pengurusan Dana Baitulmal di Malaysia". Kertas Kerja Seminar Program Promosi Baitulmal 1432H/2011M di Kuala Lumpur, hlm. 1-11, 30 September hingga 2 Oktober 2011.

Md. Nurdin Ngadimon, Pengurus Besar, Jabatan Pasaran Modal Islam, Suruhanjaya Sekuriti. Temu bual pada 31 Oktober 2011.

Mohd Zamro Muda, "Instrumen Hibah dan Wasiat: Analisis Hukum dan Aplikasi di Malaysia" dlm. Jurnal Muamalat Bil.1 hlm. 1, 2008.

Mustafa al-Khin et al., 1998. Al-Fiqh al-Manhaji . Jilid 2. 2, c. 3. Damsyik: Daral-Qalam, hlm. 213.

Nazarudin Ali, Pegawai Eksekutif (Agama), Waqf An-Nur Corporation (WANCorp). Temu bual pada 25 Mei 2012.
Syarqawi Muhammad, Pengurus Pembangunan Produk Wakaf, Yayasan Wakaf Malaysia. Temu bual pada 25 Januari 2011.

Nazih Hammad, 1993. "Asalib Istithmar al-Awqaf wa Ausas Idaratiha" dlm. Abhath Nadwa Nahw Dawr Tanmiwi. Kuwait:Wizarah al-Awqaf wa Shu’un al-Islamiyyah.

Naziree Md. Yusof, "Saham Wakaf Selangor: Hala Tuju dan Potensi dalam Pembangunan Masyarakat" dlm. Kanun hlm. 29-46, Disember, 2010.

Newell, Grame dan Atasya Osmadi, "The Development and Preliminary Performance Analysis of Islamic REIT in Malaysia" dlm. Journal of Property Research 26:4, hlm. 329-47, Disember, 2009.

Newell, Grame dan Atasya Osmadi, "Assessing The Importance of Factors Influencing the Future Development of REITS in Malaysia" dlm. Pacific Rim Property Research Journal 16:3, hlm. 358-74, 2010.

Nik Mohd. Zain Yusof & Azimuddin Bahari, 1999. "Kedudukan dan Potensi Pembangunan Hartanah Wakaf di Malaysia: Satu Penilaian" dlm. Nik Mustafa Nik Hassan (eds.), Konsep dan Pelaksanaan Wakaf di Malaysia. Kuala Lumpur: Institut Kefahaman Islam Malaysia (IKIM), hlm. 105-54.

Nik Mustapha Nik Hassan, 1999. "Sumbangan Institusi Wakaf Kepada Pembangunan Ekonomi", dlm. Nik Mustapha Nik Hassan (ed), Konsep Wakaf dan Pelaksanaan Wakaf di Malaysia. Kuala Lumpur: IKIM, hlm. 1-15.

Norhaliza Mohd Nor dan Mustafa Omar Mohammed, 2009. "Categorization of Waqf Lands and their Management Using Islamic Investment Models: the Case of the State of Selangor, Malaysia". Kertas Kerja Seminar Waqf Laws and Management Conference, International Islamic University Malaysia di Kuala Lumpur, 20-22 Oktober 2009.

Noriza Mohd. Saad & Nuradli Ridwan Shah Mohd Dali, 2009. "Real Estate Investment Trust (REITs) Performance in Malaysia: Islamic Versus Conventional Perspectives". Kertas Kerja Seminar Islamic Economics System (iECONS
2009) di Universiti Sains Islam Malaysia, 16-17 Julai 2009.

Osman Sabran, 1991. "Waqf Konsep dan Pengurusannya: Satu Kajian di Negeri Selangor". Disertasi Ijazah Sarjana Syariah, Universiti Malaya.

Osman Sabran, 2002. Pengurusan Harta Wakaf. Skudai: Penerbit Universiti Teknologi Malaysia.

S. Mishkin, Frederic, 2010. The Economics of Money Banking and Financial Markets. Business School Edition. United Kingdom: Pearson.

Sabit, Mohammad Tahir Mohammad et. al, 2005. "An Ideal Financial Mechanism for The Development of The Waqf Properties In Malaysia". Tesis Pusat Pengurusan Penyelidikan Universiti Teknologi Malaysia.

Sabit, Mohammad Tahir Mohammad & Hamid, Abdul, Mar Iman, "Obstacles of the Current Concept of Waqf to the Development of Waqf Properties and the Recommended Alternative" dlm. Malaysian Journal of Real Estate 1:1, hlm. 27-38, 2006.

Sabit, Mohammad Tahir Mohammad. 2008. "Sustaining The Means Of Sustainability: The Need For Accepting Wakaf (Waqf) Assets In Malaysian Property Market". Kertas Kerja Seminar The 14th Annual Conference of the Pacific Rim Real Estate Society di Kuala Lumpur, 20-23 Januari 2008.

Sabit, Mohammad Tahir Mohammad, 2009. "Alternative Development Financing Instruments for Waqf Properties" dlm. Malaysian Journal of Real Estate 4:2, hlm. 25-59.

Sadeq, AbulHasan M., "Waqf, Pertual Charity and Poverty Alleviation" dlm. International Journal of Social Economics 29: 1/2 135-51, 2002.

Shamsiah Abdul Karim, 2007. "Contemporary Waqf Administration and Development in Singapore: Challenges and Prospects". Kertas Kerja Seminar Singapore International Waqf Seminar on Integrating Awqaf in the Islamic Financial
Sector di Singapura, hlm. 6-7, Mac 2007.

Shamsiah Abdul Karim, 2010. "Contemporary Shari’a Compliance Structuring for the Development and Management of Waqf Assets" dlm. Singapore Kyoto Bulletin of Islamic Area Studies 3:2, hlm. 143-64, March 2010.

Shamsiah Abdul Karim, 2010. "Contemporary Shari’ah Structuring For The Development and Management of Waqf Assets In Singapore". Tesis Doktor Falsafah, Durham University. Abstrak boleh dilayari di Durham University,
http://etheses.dur.ac.uk/778/, 24 Februari 2012.

Shamsiah Abdul Karim, 2011. Temu bual dengan wartawan Cyberita, Ekoniaga, Pegawai Kanan MUIS Kupas REIT Wakaf dlm. Tesis Ijazah Kedoktoran, http://cyberita.asia1.com.sg/mekoniaga/story/0,6879,198470,00.html?, 23 Februari 2012.

Siddiqi, Muzammil H., 2009. Principles and Goals of Development: An Islamic Perspective. Pakistani Link.

Siti Mashitoh Mahamood, 2001. Bagaimana Membuat Wakaf. Kuala Lumpur: Jabatan Syariah dan Undang-Undang. Akademi Pengajian Islam, Universiti Malaya.

Siti Mashitoh Mahamood, 2006. Waqf in Malaysia: Legal and Administrative Perspective. Kuala Lumpur: University Malaya Press.

Siti Mashitoh Mahamood et al., "Konsep Wakaf Sebagai Instrumen Pembangunan Harta Tanah di Wilayah Pembangunan Iskandar (WPI)" dlm. Jurnal Pengurusan JAWHAR 1:2, hlm. 1-32, 2007

Siti Mashitoh Mahamood, "Pembentukan Dana Wakaf Menurut Perspektif Syariah dan Undang-Undang Serta Aplikasinya di Malaysia" dlm. Jurnal Syariah 15:2, hlm. 61-83, 2007.

Siti Mashitoh Mahamood, 2011. "Law of Waqf in Malaysia: Recent Developments" dlm. Kahf, Monzer dan Siti Mashitoh Mahamood (eds.), Essential Readings in Contemporary Waqf Issues. Kuala Lumpur: CERT Publication, hlm. 77-108.

Siti Mashitoh Mahamood et al., 2009. "Konsep dan Aplikasi Produk Wakaf Kontemporari Di Malaysia: Saham Wakaf Dan Wakaf Saham". Kertas Kerja Seminar Ekonomi Islam Peringkat Kebangsaan 2009 di Balai Ilmu, Akademi Pengajian Islam, Universiti Malaya, Malaya, 10-11 Februari 2009.

Siti Rokyah Md. Zain, 2005. "Determinants of Financial Reporting Practices on Waqf by Malaysian's State Islamic Religious Councils". Disertasi Ijazah Sarjana, Universiti Islam Antarabangsa Malaysia.

Siti Salwa Mustapa, 2007. "Pengurusan dan Pembangunan Harta Wakaf Kajian di Terengganu". Disertasi Ijazah Sarjana, Universiti Kebangsaan Malaysia.

Surtahman Kastin & Sanep Ahmad, 2010. Ekonomi Islam, Dasar dan Amalan. Kuala Lumpur: Dewan Bahasa dan Pustaka.

Suruhanjaya Sekuriti, "Islamic REITs: The Latest Shariah-Compliant Investment" dlm. Quarterly Bulletin of Malaysian Islamic Capital Market 1:1, hlm. 4-5, May 2006.

Suruhanjaya Sekuriti, "Islamic REITs: Growth and Opportunities" dlm. Quarterly Bulletin of Malaysian Islamic Capital Market 2:3, hlm. 13, September 2007.

Suruhanjaya Sekuriti, 2009. Islamic Equity Market. Selangor: Lexis Nexis.

Suruhanjaya Sekuriti, "Ijarah Mawsufah fi Zimmah (Forward Lease)" dlm. Quarterly Bulletin of Malaysian Islamic Capital Market 4:4, hlm. 2, December 2009.

Syahnaz Sulaiman, "Hukum Pembangunan Tanah Wakaf Khas Menurut Perspektif Syarak" dlm. Jurnal Muamalat Jil.1, hlm. 45-64, 2008.

Timbalan Gabenor Bank Negara Malaysia, 2010. Ucaptama dalam Asia Islamic Banking Conference, Convergence and Sustainable Growth of Islamic Finance in a Dynamic Environment di Kuala Lumpur, 5 July 2010), http://www.bnm.gov.my/index.php?ch=9&pg=15&ac=367, 14 Februari 2012.

Yayasan Wakaf Malaysia, http://ywm.org.my/profil-ywm/matlamat-teras/, 14 Februari 2012.

Yeap, Cindy. "Questions Over REIT as a Defensive Asset Class" dlm. The Edge Malaysia hlm. 28 dan 30-31, 5 December 2011.

Zainal bin Hj Mohd. Yusoh, Penolong Akauntan Wakaf, Jabatan Wakaf Zakat dan Haji (JAWHAR). Temu bual pada 5 November 2012.

Zakariah Abdul Rashid (2000), "Penetapan Asas dan Kadar Zakat, Kesannya kepada Zakat Gaji" dlm. Jurnal IKIM 8:2, Julai –Disember, hlm. 119-33, 2000.

Zarqa, Muhammad Anas , "Financing and Investment in Awqaf Projects: A NonTechnical Introduction" dlm. Islamic Economic Studies 1:2, hlm. 55-62, June 1994.

Zarqa, Muhammad Anas ,(t.th), "Al-Wasail Hadithah litamwil wa al-Istithmar", dlm. Idara wa Tathhmir Mumtalakat al-Awqaf. Jeddah: Institute of Development Bank (IDB), hlm. 172-97.

Zarqa, Muhammad Anas, "Leveraging Philantrophy Maonetary Waqf for Micro Finance", dlm. Kahf, Monzer dan Siti Mashitoh Mahamood (eds.), Essential Readings in Contemporary Waqf Issues. Kuala Lumpur: CERT Publication.

Zulkifli Hasan, "The Effectiveness of the Administration of Waqf Land in Malaysia" dlm. Shariah Law Reports Jil. 3, hlm. 8-80, 2008.

Zulkifli Hasan, 2008, "The Investment of Waqf Land as an Instrument of Muslims' Economic Development in Malaysia". Kertas Kerja Seminar Dubai International Conference for Endowments Investments, the Dubai Awqaf and Minors Affairs Foundation di Dubai, 4-6 Februari 2008), hlm. 1-25.
Published
2012-12-01
How to Cite
SULAIMAN, Syahnaz. Isu Pembangunan Wakaf Menggunakan Struktur Amanah Pelaburan Hartanah Islam di Malaysia: Satu Tinjauan. Kanun: Jurnal Undang-undang Malaysia, [S.l.], v. 24, n. 2, p. 149-177, dec. 2012. ISSN 2682-8057. Available at: <https://jurnal.dbp.my/index.php/Kanun/article/view/8001>. Date accessed: 27 dec. 2024.