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10 Berkeley J. Middle E. & Islamic L. 1 (2019)

handle is hein.journals/bjme10 and id is 1 raw text is: The Corporate Waqf in Law and Practice Aisha I. Saad* Introduction..................1... .................1 I.Legal Foundations of the Corporate Waqf......................4 A. Foundations of the Waqf in Islamic Law........ ........... 5 B. Modem Law and Regulation of the Corporate Waqf .........7 1. Turkey ........................ ...........7 2. Malaysia. ........................ .......... 9 3. India..................... ............... 10 II.The Corporate Waqf in Practice ................................. 11 A. Kog Holding and Vehbi Kog Vakfi ................. 12 B. Johor Corporation and Waqaf An-Nur ...... ......... 14 C. Hamdard (Wakf) Laboratories and Hamdard National Foundation ........................ .......... 15 III.The Corporate Waqf and the Industrial Foundation . ............ 18 A. The Industrial Foundation and the Foundation-Owned- Firm ....................................... 18 B. Comparing the Organizational Architecture of the Corporate Waqf and the Industrial Foundation ................ 19 Conclusion .......................................... 22 INTRODUCTION Over the past fifty years, a novel form of corporate ownership has emerged in Turkey, Pakistan, India, Bangladesh, and Malaysia. The innovation of the corporate waqf,I as this form has become popularized, DOI: https://doi.org/10.15779/Z38NC5SC93 * Aisha I. Saad, Research Scholar in Law and Bartlett Research Fellow, Yale Law School. MPhil/DPhil, University of Oxford (2013). J.D., Yale Law School (2018). 1. Malaysia's Johor Corporation was the first to coin the term corporate waqf' in establishing Waqaf An-Nur in 2006. However, the organizational structure itself appeared 1

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