(1) All wakaf money may be invested by the Majlis-
(a) in syariah compliance deposits in any banks;
(b) in syariah compliance securities issued or will be issued by the State or Federal Government; or
(c) in any syariah compliance investments approved by the Majlis;
and the investments, together with any proceeds received therefrom, shall form part of the Wakaf Fund.
(2) For the purpose of this section-
“deposit” means mawquf in the form of cash deposited on terms and conditions mutually agreed by the Majlis with any banks and if demanded in any circumstances, such deposit shall be returned to the Majlis without any
encumbrances and additional charges except the charges imposed according to the agreed terms and conditions; and
“securities” includes stocks, funds, shares and bonds, debentures and other instruments creating or evidencing a charge or lien on assets.