The Factors Influences Toward Istibdal Implimentation For Waqf Development: The Way Forward
Keywords:Waqf, Endowments, Istibdal, Economic, Fatwa
Waqf or religious endowments are vital towards Islamic economic growth. It is also considered as a development medium for establishing various public institutions such as schools, hospitals and mosque for the communities. Some of the Muslim scholars have taken a rejuvenate interest in waqf management by istibdal implementation. It become one of the instrument to sustain and utilize the waqf institutions management. This paper aims to identify the role of waqf and istibdal in Muslim society as evidenced from the Quran, Hadith and Ijmak Ulama as well as current fatwa. In a bid to examine these issues, the paper analyzes further in istibdal concept and their benefits that ensure the waqf property is functioning as intended and benefit for the interest of all Muslims. The main issue also focuses on the factors that influenced istibdal such as acquisition by state authority, geographical factor, economic factor, education purpose and management complexity. All of these factors will contributed for the istibdal management process in other states. However, the cases of istibdal needs to be approved by the state fatwa committees. In conclusion, the waqf problem of idle assets and under utilization can be solve through istibdal implimentation. Hence, through systematic Istibdal management will also increase the level of trust among the Muslim communities to contribute for the future waqf development projects.