build-operate-transfer

The Application of Build, Operate, Transfer (BOT) Contract as a Mode of Financing in Developing Waqf Land: Malaysian Experience

The Build, Operate and Transfer (BOT) contracts is widely applied in developing economy since the declining participation of private sectors in the reconstruction and funding of public infrastructure. It is a project of financing and operating approach which has been practiced primarily in the area of infrastructure privatization in the developing countries. Recently, the application of BOT contracts has been found in many waqf institutions especially Majlis Agama Islam Wilayah Persekutuan. The BOT approach gives a new direction in the field of waqf as it has capability to enhance waqf property for the public benefits. Enhancing the property is the major purpose of why waqf is enjoined by Islam. The involvement of waqf institution in developing its property and public infrastructures by way of build, operate and transfer contracts alternatively called BOT is proving to be a challenging exercise. The proposed study examines the current practice of this contract in waqf institutions generally and in Majlis Agama Islam Wilayah Persekutuan specifically with specific reference to the project of Menara Bank Islam which is also known as MAIWP on piece of waqf land situated at within the Golden Triangle between KLCC and Bukit Bintang . The study aims at identifying Shariah issues, problems and also the challenges that might be facing the waqf institution during the implementation of BOT.     BOT dr azman for Arab LawvQuarterly 26102016 for ibfim cagamas training on waqaf sukuk for slides: BOT and Its Application in Developing Waqf surabaya 300114

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