Modern Waqf Asset Investment Management
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Abstract
Investment in waqf assets through various forms in the modern era presents challenges for waqf asset administrators in their efforts to maximize benefits for society. However, any investment undertaking requires careful consideration of numerous factors, including the donor's intention, the religious principles context and investment models according to different schools of thought (madhabs), investment risks, and effective investment management systems.
One crucial component is the investor who brings assets to invest in waqf properties to generate profits for both parties - the waqf asset administrators and investors from both public and private sectors, as well as Islamic financial institutions. Particularly, Islamic banks and Islamic cooperatives serve as key components that contribute to the success of waqf asset investments. Another important consideration is the establishment of a national waqf asset management organization in Thailand under the supervision of religious organizations such as the Office of the Shaikul Islam or the Central Islamic Committee of Thailand, along with the implementation of laws, regulations, and bylaws to control and oversee waqf asset investment activities in Thailand. However, collaboration with international organizations is also crucial to receive assistance and utilize their organizational models as templates for development.
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