KUALA LUMPUR: Yayasan Waqaf Malaysia (YWM) launched the 'Pemerkasaan Instrumen Wakaf Bertempoh' (Al-Muaqqat Wakaf) Workshop for the purpose of empowering wakaf (endowment) development in Malaysia.
Its chief executive officer, Dr Ridzwan Bakar in a statement today said the organisation of this workshop was to bring together representatives from the state Islamic Religious Council (MAIN), Wakaf Department, Tithe and Haj (JAWHAR) as well as stakeholders in wakaf development, including the Finance Ministry and Bank Negara Malaysia.
"The organisation of this workshop is seen as instrumental in assisting and providing guidance to YWM in creating more dynamic and competitive directions for wakaf development in the country.
"It is also done with the Shariah Advisory Committee's recommendation for YWM to reevaluate the proposed implementation of deferred cash wakaf from practical, legal, and administrative perspectives so that the planned initiatives can be executed efficiently and systemtically," he said.
Meanwhile, Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Mokhtar, who is also YWM Board of Trustees chairman, emphasised that the development would focus on high-impact, advanced, and sustainable projects aimed at increasing wakaf assets nationwide.
"For the purpose of developing these wakaf land, the concept of a Qardul Hassan loan will be used to redeem or refinance wakaf development projects that have been completed, operational and have generated consistent income.
This development is a private finance initiative to enable the replayment of wakaf funds," he added. – Bernama