Potensi Amanah Pelaburan Hartanah Islam (I-Reit) dalam membangunkan industri sawit di Malaysia (Potentials of Islamic Real Estate Investment Trusts (I-REITs) in advancing oil palm industry in Malaysia)

Abstract

Amanah Pelaburan Hartanah Islam (I-REIT) merupakan satu instrumen pasaran modal yang berlandaskan syariah. Kewujudan I-REIT memberi peluang kepada pelabur untuk melabur dalam bidang hartanah. Al-Hadharah Boustead REIT yang ditubuhkan pada tahun 2007 merupakan satu satunya instrumen Amanah Pelaburan Hartanah Islam (IREIT) yang berasaskan perladangan kelapa sawit di Malaysia. Artikel ini bertujuan membincangkan prinsip syariah yang diguna pakai oleh Al-Hadharah Boustead REIT serta sumbangannya dalam industri sawit negara. Dapatan kajian menunjukkan Al-Hadharah Boustead REIT menggunakan prinsip al-musyārakah, Al-wakālah, Al-Ujr dan harta musyā dalam aktiviti pelaburannya. Di samping itu, penguasaan pemilikan Al-Hadharah Boustead REIT dalam industri sawit negara menunjukkan peningkatan yang memberangsangkan sepanjang tempoh kajian.

Katakunci: aktiviti pelaburan, Al-Hadharah Bousted REIT, Amanah Pelaburan Hartanah Islam, industri kelapa sawit, instrumen pasaran modal Islam, prinsip syariah

The Islamic Real Estate Investment Trust (I-REIT) is a shariah based capital market instrument which offers investors an opportunity to invest in real estate. The Al Hadharah Boustead REIT which was established in 2007 is the only oil palm plantation utilising the I-REIT instrument in Malaysia. This article discusses the principles of sharia adopted by the Al-Hadharah Boustead REIT and its contribution to the national oil palm industry. The findings showed that the Al-Hadharah Boustead REIT utilises the principles of al-musyārakah, Al-wakālah, Al-Ujr and musyā property in its investment activities. The result is a marked improvement, throughout the study period, of the Al-Hadharah Boustead REIT ownership in the oil palm industry.

Keywords: Al-Hadharah Boustead REIT, investment activities, Islamic capital market instrument, Islamic Real Estate Investment Trust, Oil Palm Industry, sharia principles