Waqf is one of the Islamic economic instruments that has long been used to help deal with economic and social problems in society. However, in the current dynamic and challenging economic context, there is a need to strengthen and renew the concept of waqf so that it can function more effectively. One of the approaches that can be taken is through the concept of “waqf muaqqat” or temporary waqf. In fact, this was mentioned by YB Senator Dato’ Setia Dr. Haji Mohd Na’im bin Haji Mokhtar, Minister in the Prime Minister’s Department (Religious Affairs) when launching the National Waqf Month 2024 last March. In his speech, the Minister outlined four (4) urgent actions that need to be taken by the Department of Waqf, Zakat and Hajj (Jawhar) and Yayasan Waqaf Malaysia (YWM) and one of them is to explore the concept of temporary waqf in terms of its potential as an alternative source of funds for the development of waqf nationwide.
In the context that is generally accepted in this country and what is agreed upon by the majority of scholars is that waqf to be perpetual, irrevocable and inalienable i.e. once a waqif (donor) make a waqf, the ownership of the waqf corpus is permanently transferred to the “ownership” of Allah. Hence the donor cannot revoke his waqf declaration and neither the donor nor the waqf administrator can turn the corpus into the subject of inheritance, gift, sale, mortgage or any alienation whatsoever.
However, in the Maliki School, the permanent transfer of property ownership is not a condition that must be present if a person wants to do waqf. In fact, waqf can be done for a limited period or temporary.
In an effort to encourage more members of the community to involve in this pious practice, the feature of temporary waqf with no permanent transfer element is seen as a pull factor. Waqf in this approach is seen as more flexible, modern and suitable for the current lifestyle settings. Thus, the owners of movable and immovable assets such as cash, shares, houses, buildings, land and others can make waqf for a certain period of time without worrying about losing the ownership of these assets or properties.
This is also supported by a contemporary Islamic scholar – Monzer Kahf, who is of the view that such waqf should be considered for implementation because it can not only meet the increasingly diverse and diverse social objectives, but also provide opportunities for more people to be part of good cause through waqf practices.
As a matter of fact, the special feature of temporary waqf i.e. no time-constrained or temporariness could potentially create a number of dynamic features that should be capitalized by waqf administrators to further promote philanthropic giving amongst communities.
Firstly, temporary waqf gives flexibility to potential waqifs (donors) to determine the period of waqf contract. This allows the waqifs to plan and arrange their waqf according to their needs and capabilities. By having this option, it opens up an opportunity for them to temporarily surrender their assets to waqf administrators to be used either for investment or rental purposes or general use for a certain stipulated period of time.
There might be also individuals who may intend to do waqf but for some reasons they might not want to relinquish the ownership and control over their assets permanently. Thus temporary waqf provides assurance to the waqifs that they still have the control as they will be returned to their possession after the expiration of the waqf period.
Thirdly, some individuals may have temporarily unused assets such as buildings, houses, vehicles or even cash. Instead of leaving this property ineffectively, through the concept of temporary waqf, it gives the owner the option to hand over the assets to waqf institution to optimize and keep them in productive loops even for a short period.
It is believed that by being flexible in response to changing situations, waqf practice would be able to gain wider acceptance from the public. Logically, the more the numbers of waqifs, the larger the assets can be collected and the higher the investment yield or rental returns that can be generated from these waqf assets.
In today’s challenging business environment, the ability of any marketing initiative to adapt and adjust to changing circumstance is an important feature that enables it to gain a good reception from stakeholders. In the context of waqf institutions, their ability to respond quickly and adapt the concept of waqf to current needs without compromising any Shariah principles, allows them to win the hearts of the community.