On 27 March 2023, Bursa Malaysia Securities Berhad
(“Bursa Malaysia”) amended Main Market
Listing Requirements (“Listing
Requirements”) to enhance disclosures in
announcements and periodic reports of listed Islamic real estate
investment trusts (“REITs”) and
exchange-traded funds (“ETFs”) with
waqf feature approved by the Securities Commission
Malaysia (“SC”) and are in compliance
with the SC's Guidelines on Islamic Capital Market Products
and Services.
Waqf is Islamic endowment in accordance with the Shariah.
According to the book titled "WAQF ASSETS: DEVELOPMENT,
GOVERNANCE AND THE ROLE OF ISLAMIC CAPITAL
MARKET1" published by the SC, the waqf concept
started off as a simple endowment during the time of Caliph Umar al
Khattab (RA), but it was only during the time of the Ottomans that
through innovations, waqf management became more clarified and, in
a way, regulated. The concept and structure of waqf changed into
self-sustaining business models that generated
