DPM: Don’t misuse wakaf bodies to get rich

BANGI: Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said yesterday the managers of wakaf (Islamic endowment) institutions must not tarnish the sanctity of these bodies by using them to enrich themselves financially.

The chairmen and board of directors must not use these institutions as a platform to accumulate wealth, she said.

“Wakaf can help business entities.

“Never ever make use of these institutions as a tool for those entrusted with their management to enrich themselves.

“As such, the chairmen, board members, management, staff and all others associated with maintaining the sanctity and excellence of any wakaf institution must ensure that they adhere to the objective for which they were set up for,” she said when launching EduWAQF, an educational wakaf initiated by AWQAF Holdings Berhad here.

Dr Wan Azizah said wakaf institutions should continue implementing the corporate structure and system of management based on the excellence of governance practices, transparency, effectiveness and efficiency while upholding syariah compliance.

Dr Wan Azizah, who is Women, Family and Community Development minister, said the government saw the establishment of wakaf institutions as most appropriate, particularly for Bumiputeras and Muslims, in view of the current uncertain economic situation.

She said it was hoped that the establishment of corporate wakaf institutions would be able to balance the ownership of property that had been monopolised by certain groups with the concept of ownership of property by these institutions.

She said that the well-to-do Muslims should be made aware of the importance of contributing to the realisation of wakaf property and funds that could be used for the progress of the community’s progress.

“If we examine history, we will find that wakaf is the most significant social financing engine to generate activities in areas such as education, public amenities and conservation of nature,” she said, citing the Al-Azhar University in Egypt that was able to provide full scholarships to students taking up religious courses as an example of development with wakaf funds.

On EduWAQF, Dr Wan Azizah said the AWQAF initiative to establish the wakaf adhered to the Islamic principles and values of emphasising the competitive spirit in doing good and welfare work.

“I was made to understand that AWQAF will provide RM5 million for the purpose, whereby it will be invested and the returns used to empower through education.” she said.