Judicial Authority in Waqf Investment: A Jurisprudential Study

Abstract

This study highlights that the investment of waqf, from an Islamic jurisprudential perspective, is not merely a financial practice. Rather, it is an area of ijtihād (juridical reasoning) governed by Shariah interests and the objectives of waqf, wherein the judicial authority intersects with the requirements of preserving and developing waqf assets. This interaction achieves a balance between the judiciary’s power of supervision and guidance, and the observance of the founder’s conditions and the principles of trusteeship in managing waqf. The study concludes that judicial intervention in waqf investment is not absolute but constrained by Shariah and purposive regulations. In this context, the judiciary’s role extends beyond merely implementing rulings or acting as a supervisory body; it functions as an instrument for regulating and directing waqf investment to ensure sustainability, prevent disruption or deviation, within a foundational framework that balances authority and restraint. Consequently, this jurisdiction remains governed by Shariah limits and guided by its higher objectives.