Sustaining the Means of Sustainability: The Need for Accepting Wakaf (Waqf) Assets in Malaysian Property Market

byMohammad Tahir Sabit Mohammad
2007 University Teknologi Malaysia, EPrints

Present legal framework excludes wakaf lands from the land markets and access to credit market
• Land registration
• Title security
• Trading
• Marketability
• Equal market value
• Collateralization
Solutions for legal framework - a uniform and comprehensive code of wakaf law and amendments to the various state legistations, NLC, Land Acquisition Act-
• Wakaf as a body corporate capable of holding land
• Classification of wakaf land as prime, secondary
• Registration of wakaf lands as wakaf titles
• Transferability of secondary wakaf lands
• Leasing of prime wakaf lands
• Wakaf lands cf leasehold titles – perpetuity?
• Enforcement of long term leases of wakaf lands – wakaf leases
• Suitability for collateralization
• Recognition of these wakaf leases in terms of their value, transferability and collateralization
• Valuation of various types of wakaf lands