Abstract
Waqf company is a new concept in the waqf. It is different from the conventional waqf that is based on real estate and plantations. It is also different from the cash waqf. Due to this, the purpose of this paper is to study the concept of waqf company, try to define it, and establish how it works through the use of the Saudi Arabian practice as a reference point. This research adopted a qualitative research method, using content analysis of the secondary literature from both classical and contemporary jurists and legal experts’ opinions. Some of the major findings are the definition of a waqf company whose shares are all waqf. It also found that a company does not become a waqf company because of having few shares declared as waqf by their owners. In terms of incorporation, waqf company can take any form of business entity that could be used as a vehicle for commercial activities. The limitation of the research is that there is little literature because the topic is still new. The research presents a practicable concept of the waqf company.
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Article Details
- Year: 2020
- Volume: 41
- Issue: 4
- Pages: 161 - 189
- Accepted: 04.01.2021
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DOI:
https://doi.org/10.5281/zenodo.17037626 -
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How to Cite?
Abdulrahman Abdullah Alsaadi (2020). Waqf Company: Concept, Rulings and The Practice in the Kingdom of Saudi Arabia. Journal of Economic Cooperation and Development, 41(4), 161-189. https://doi.org/10.5281/zenodo.17037626
