The Need for an Effective Legal and Regulatory Framework for Cash Waqf
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Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
Routledge
Abstract
This chapter critically reveals the imperative need for an effective legal and regulatory framework to be put in place for Cash Waqf. The study attempts to show that an effective legal and regulatory framework for cash waqf can be employed to address the problem of variations in the understanding of the concept of cash waqf, which has led to increasingly blurred lines between original cash waqf and funds deployed for financing waqf properties , which have led to abuse of the term in financial engineering in the product development processes.
Description
This study analyses the legal requirements in the definitions of cash waqf, product structuring, marketing, types of financing, and beneficiaries of cash waqf. The chapter provides an outline of a general model legal and regulatory framework that may be considered for further development in any jurisdiction.
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Citation
Abdullahi Saliu Ishola and Umar A. Oseni, "The Need for an Effective Legal and Regulatory Framework for Cash Waqf" in Syed Nazim Ali and Umar A. Oseni (ed.), Waqf Development and Innovation - Socio-Economic and Legal Perspectives (New York: Routledge, 2022) pp. 126-140