This paper aims to critically review the literature with respect to the meaning of cash waqf that reflects the formation of waqf structure and mechanism. Focusing on selected Shariah resolutions, the review intends to examine the juristic reasoning of such resolutions in identifying the discrepancy and addressing any possible gap. The outcome of the paper aims to foster a greater number of future research towards sustainable development of cash waqf. For this review, a range of documents have been collated and analysed to capsulize the essence of the scoping matter including the selected Shariah resolutions and standards. As such, the paper inclines to the fundamental analysis approach whereby the data will be comparatively reviewed for establishing a critical evaluation and outcome. The review indicates three connotations of the term used: (i) Cash or money as waqf asset – henceforth, the utilization may attract Shariah concern; (ii) Cash as waqf asset which then be converted into tangible asset – aside the usage of term istibdal by some for this conversion, the usufruct of the asset will be benefitted for waqf purposes. Thereby, the Shariah rules of waqf contract and istibdal is a concern accompanying the maqsid (objective) of such contract; (iii) Cash is gathered from more than a party via syndicated contribution or crowdfunding, to acquire the waqf asset – despite the used term, cash is not construed as waqf asset. Apart from the aforementioned interpretation, the term might be outlandishly used to indicate the donated money, which is accurately meant for sadaqah.
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