Endowments are Basically the Same as Insurance
Author: Sakamoto
Endowments for a Muslim is a realization of worship to God through the property it possesses, namely by removing objects held in the public interest. Waqf Doctrine was based on the Word of the Prophet. “If the son of Adam dies, the charity terputuslah all except three cases: shadaqoh jariyah, useful knowledge and pious children who pray” (Narrated by Muslim). [1] The fiqh scholars agree, is meant by “charity jariyah” in the above hadith is waqf. Hadith scholars were experts agree agrees that view. [2]
More rigid again, in the fiqh literature, endowments are distinguished by another kind of Islamic philanthropy, like charity, donated and charity. Endowments is giving the property to be managed by Nazhir (manager), then the results of management used for the general welfare. So, treasure diwakafkan origin remained intact, only the investment returns that can be distributed to benefit. The opinion of the jurists is based on the Hadith of the Prophet who said, ahbis ashlaha wa sabbil tsamrataha, resist their home (subject property which diwakafkan) and share the results (the results of the management or investment). [3]
When waqf, there are four pillars that must be met. First, people who berwakaf (Waqif). Second, objects that diwakafkan (mauquf). Third, the person receiving the benefits of waqf (mauquf ‘alaih). Fourth, pledge lafadz or waqf (sighah). [4] The thing that can diwakafkan consists of two kinds: immovable property such as land, and moving objects such as money. [5] In addition to the four pillars of endowments, there is one more important element in the waqf , namely Nazhir or waqf property manager. Nazhir are people who are tasked to manage the waqf. In the books of fiqh did not mention that one of the pillars of Nazhir including waqf. But because Nazhir important role in managing and developing the waqf property, the Law number 41 of 2004 on Endowments determine Nazhir as one element of waqf.
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Tags: Allahabad High Court, Babri Mosque, God, Islam, Muslim, Rama, Religion and Spirituality, Waqf