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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


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