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The Intellectual Muzakarah held on the afternoon of Sunday, January 27, 2013 organized by the Islamic Business School (IBS) has received good response from UUM academics and outside UUM such as KUIN and UITM. It is hoped that this first Intellectual Muzakarah will serve as the stepping stone for future muzakarah focusing on issues pertaining to Maqasid Shari'ah in Islamic economics in general and Islamic business in particular.
The two-hour Intellectual Muzakarah entitled 'Waqf Management: A Comparative Analysis' is basically the sharing of knowledge from a research conducted by Prof. Dato' Dr. Mohammad Haji Alias (INFAD, USIM), Assoc. Prof. Ismail Mat (KUIN), Ustaz Hisham Sabri (USIM) and Ustaz Hydzulkifli Haji Hashim (IBS, UUM). Among the issues discussed in the muzakarah is about contemporary forms of waqf property management as well as the experience and comparative performance of the waqf in Malaysia and other ASEAN countries such as Indonesia, Brunei, Thailand and Singapore. Other issues that were discussed include the introduction of cash waqf which is more suitable in meeting contemporary needs to enable more participation from 'waqif' (contributor of endowment) because of its easier implementation which enables them to contribute according to their desired value.
Furthermore, the discussion has been successful in promoting the waqf concept in a new dimension which is more acceptable to the public. The Muzakarah indicates the vast potential of research on subject of waqf. Among the related issues are cash waqf, an efficient and useful waqf property development and management, management of waqf education and and diversity of the forms of waqf contribution. However, it should be emphasized that the consideration of maqasid al-Shariah should be the priority in all forms of innovation in donations and waqf management. The main issue that has been shared by the panelists are potentials of waqf for Islamic economic development through innovations in the contribution of Waqf property. It should be noted that Waqf property development is not confined to immovable property only, it can also exist in the form of movable or liquid assets for the benefit of Muslims.
The Intellectual Muzakarah ended at 4.45 pm with the presentation of gifts to the presenters by Dr. Nasri Muhammad Hussain, Head of Muamalat and Islamic Financial, IBS. Ustaz Zairy Zainol, Chairman of the IBS seminar committee, was satisfied with the response from UUM and outside UUM such as UiTM Arau and KUIN. He hoped that such Intellectual Muzakarah will be held regularly as part of academic exercise to gain knowledge and to share ideas and experiences. He added in his opening remarks that the selection of IBS to hold this muzakarah by partners from USIM as a recognition of the existence of IBS which was formed in less than two years.
