APPLICATION OF WAQF TAKAFUL MODEL IN MALAYSIA: ITS REQUIREMENTS AND PROBLEMS (APLIKASI TAKAFUL MODEL WAKAF DI MALAYSIA: KEPERLUAN DAN PERMASALAHANNYA)

Takaful coverage schemes are increasingly accepted by society today, especially in Malaysia. However, it does not mean that the system has been set up by takaful companies really meet the Shariah principles or does not arise any issues. Among the issues that arise are the tabarru' contract in takaful practices have a downside though is not seen. A variety of solutions put forward to overcome that issue, among them introducing the waqf based takaful model. Therefore, this research will do a review and preliminary analysis of the needs of the waqf based takaful model in Malaysia. In addition, this study will identify the problems that exist if the waqf based takaful model applied in Malaysia.