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Waqf development in Malaysia

In: Islamic Social Finance

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Abstract

This chapter focuses on waqf development in Malaysia. The purpose of this chapter is to present how the government of Malaysia plays its role in achieving the objectives of waqf development. First, this chapter introduces a glimpse of waqf history in Malaysia and the establishment of the Malaysia Waqf Foundation. Then, this chapter list contemporary waqf practiced in Malaysia, including cash waqf, waqf assets, waqf investment, and corporate waqf shares. This chapter aims to present to the reader how the government of Malaysia plays a significant role in achieving the objective of waqf development. Thus, this chapter lists the objectives of waqf development in Malaysia (through SDGs) and Malaysia's initiatives in developing waqf practices to achieve the waqf objectives. In the next expansion, Malaysia is taking the initiative to develop waqf practices highlighted in the 11th Malaysia Plan (2016-2020), followed by the 12th Malaysian Plan (2021-2025) to empower SMEs' roles.

Suggested Citation

  • ., 2023. "Waqf development in Malaysia," Chapters, in: Islamic Social Finance, chapter 5, pages 76-104, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21881_5
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    Economics and Finance;

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