PUTRAJAYA: The implementation and strengthening of wakaf programmes is much needed in order to boost the Islamic economy and financing in the country.
Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah however noted that the area of wakaf funds and land have not been fully utilised.
“Malaysia is the world leader in Islamic financing, yet this is one of the areas we have yet to fully explore.
“We have an abundance of wakaf (funds and land) but we are not utilising it to the fullest," he told a press conference on the upcoming 11th International Conference on Islamic Economic and Finance (ICIEF).
He hoped that through this conference, fruitful discussions would generate ideas on how to take wakaf programmes and initiatives in the country to the next level.
"In the conference, state religious departments can also showcase their ideas on how to develop wakaf areas in their states, for instances wakaf in health and education," he added.
Irwan said that in Muslim countries such as Turkey, wakaf is the main player in providing social programmes to help the community at large.
Themed ‘Rethinking Islamic Economics and Finance: Paving the Way Forward for Inclusive and Sustainable Development’, the conference aims to analyse current state of Islamic economics and finance.
The conference, which will be organised by International Islamic University Malaysia (IIUM) from Oct 11 to 12, will see the participation of 300 participants from 35 countries and the presentation of 80 papers.