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Malaysia: Creative wakaf land projects

Posted on 25 October 2012

UDA Holdings Bhd has come up with a development blueprint to sidestep limitations for proposed projects on wakaf (endowment) land in the country. The blueprint — first of its kind here — will see the development of commercial properties for higher returns to the respective Muslim community, simply by leasing out the plots while maintaining the Islamic titles.
Otherwise, complications arise due to wakaf land currently being regulated and managed under different laws and regulations within the purview of the States Islamic Religious Council — consisting of 15 states and federal territories in the country, said UDA chairman Datuk Nur Jazlan Mohamed………………………………………..Full Article: Source

 
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