What role does wakaf play in the 12th Malaysia Plan?

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Wakaf Plays a Crucial Role in Poverty Alleviation and Economic Development within the 12th Malaysia Plan

Within the framework of the 12th Malaysia Plan, wakaf is positioned as a vital institution for assisting Malaysian families in escaping poverty. This aligns with broader governmental strategies to diversify funding sources for businesses and enhance bumiputera equity, thereby driving socio-economic progress and national economic growth.
Poverty Eradication Focus

The Fifth and Sixth Focus areas of the 12th Malaysia Plan specifically outline the critical function of the wakaf institution in supporting efforts to lift Malaysian families out of poverty. This emphasis highlights the government's intention to leverage wakaf as a tool for socio-economic upliftment.
Diversification of Financial Resources

The integration of wakaf into the 12th Malaysia Plan supports the diversification of financial resources available for business funding. By promoting concepts like the corporate endowment model seen in Waqaf Felda, the plan aims to create new avenues for capital generation and investment.
Enhancement of Bumiputera Equity

A key objective linked to the role of wakaf in the 12th Malaysia Plan is the increase of bumiputera equity. This is pursued through initiatives that channel funds into businesses and community development projects, aiming to improve the economic standing of bumiputera communities.
Socio-Economic and National Economic Contribution

The wakaf institution is expected to contribute significantly to driving the socio-economy of the community and bolstering national economic growth. Initiatives such as Waqaf Felda exemplify this by aiming to catalyse rural economies through job creation and the development of untapped business opportunities.

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What role does wakaf play in the 12th Malaysia Plan?

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