GLOBAL: Speaking at the launch of the 10th World Islamic Economic Forum Foundation (WIEF) in Kuala Lumpur, Kunrat Wirasubrata, the acting director of the IDB Group’s regional office in Kuala Lumpur, stressed the importance of maximizing Waqf assets for the benefit of the society as a whole.
“Both Muslims and non-Muslims can be beneficiaries of the Waqf properties. Unfortunately Waqf resources are not properly managed these days and they have been put to limited use such as building mosques and religious schools. There is nothing wrong with this dedication, but perhaps there are ways to optimize the amount of social and economic benefit that could be derived from Waqf,” said Wirasubrata.
According to Musa Hitam, the chairman of WIEF, the management, allocation and potential usage of Waqf assets will be one of the main issues discussed during the forum. He highlighted that the key impediments surrounding Waqf is limited knowledge on the matter and narrow mindedness in managing the assets.