Section 22
Wakaf scheme
of Wakaf State Sabah Enactment 2018
The Board may establish any wakaf scheme or approve, subject to conditions determined by the Majlis, any institution to establish any scheme related to wakaf –
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(a)
through cash contribution or any other financial contributions from any person,association or institution;
(b)
by offering for sale of wakaf shares, or by issuing wakaf sukuk or any other instrument for valuable securities as wakaf; or
(c)
for the purpose of investment, of or in any property acquired, or for development of any mawquf.
(2)
The Board may accept shares endowed by any person, society or institution provided that the business carried out is consistent with Hukum Syarak.
(3)
Any property acquired or developed from the proceeds of the sale under subsection (1) shall be a wakaf.
Wakaf of proceeds from premise and products from agriculture on land owned, rented or leased