Waqf comes from the Arabic word waqf, the name of the derivative (Masdar) of the waqafa verb, it has a variety of meanings according to the purpose and use of the verse itself. In terms of language, waqf gives meaning to terminating, prevents and holds. The fiqh scholar agrees to define waqf by language terminology with al-habs means restraint; because the word al-habs is closer to the Islamic sense.
From the perspective of the term syarak based to the opinion of the scholar such as Imam al-Syafie, Abu Yusuf, Muhammad bin al-Hassan al-Shaybani and scholar of Hanbali Mazhab think that waqf means to hold certain property that can be utilized and the condition of the property must be permanent and transferable property and its management is decided by the beneficiary and the purpose of waqf is for the good or for the things that are required to draw closer to Allah SWT (Mohd Zamro Muda et.al, 2008,
Waqf is one of the oldest institutions in the history of Islamic development. The term wakaf is not mentioned directly in the Quran or Hadith. It started to be based on the interpretation of the…show more content… The cash dividend is a means of maintaining the total cash and at the same time, the property is being developed to ensure that the benefits of the property can be enjoyed continuously by the public more thoroughly. This is because the benefits of waqf will not be generated independently but through a venture such as investing. It can also ensure the real risk of devaluation of waqf funds due to inflation or economic performance fluctuations can be reduced. If fixed assets (`iqar) such as land or buildings can be proven naturally or permanently through statutory status such as proof of grant, but for cash wakaf, the permanent element that must be available to them can be realized through such cash conversion to permanent property that can be afforded ( Al-Muamalat Magazine,
