There is an opinion among Western scholars that the institution of waqf could no longer perform its economic role in the present times. Instead of being a vital institution as it truly played in the pre-modern era, waqf nowadays seems to be an impediment to the development in Muslim countries. However, there are proven cases of very successful waqf financing, both in the non-profit or commercial sector.

Basic tenet is a lasting gift for the benefit of the public. Waqf is one of Islamic economic instruments to promote the distribution of public wealth. This perpetual voluntary charity concept is that the underlying asset should remain and the people can benefit from the asset perpetually. It promises a continuous reward in eternal life for as long as the underlying asset endures to be useful.

Non-profit or non governmental organizations, commonly depend on the donation, contribution and solely fund from the funders to maintain the activities, which sometimes derail their vision and mission, and become donor driven. Is waqf or its blended financing suitable for NGO? Is there any law or regulation to be aware of before embarking on waqf financing for your organization? Is there any successful Waqf model in Malaysia and the world?

Prof Emeritus Berjoyai Bardai
Professor, Graduate School of Business
UniRazak

Speaker 2
Abdul Mohsein Bin Mohd Shariff
Executive Director
Awqaf Holding Berhad