Commercial Waqf Projects To Boost Muslim Economy, Create Jobs

MELAKA, March 7 (Bernama) -- The commercial development of waqf assets could spur economic growth among Muslims while creating job opportunities for the asnaf and B40 groups.

Deputy Minister in the Prime Minister’s Department (Religious Affairs) Marhamah Rosli said the concept of waqf should be viewed broadly in line with current economic developments.

“Beyond traditional functions such as building mosques and cemeteries, waqf can serve as an economic development instrument through commercial asset projects,” she told reporters after officiating the Rantaian Kasih Iftar with orphans and the poor in Tanjung Kling today.

Also present was Yayasan Waqaf Malaysia chief executive officer Dr Ridzwan Bakar and 80 orphans from three welfare organisations, namely Anjung Putra Melaka, Rumah Kasih Tun Abdul Aziz and Lembaga Pengurusan Kebajikan Anak Yatim Miskin (PAYASUM).

Ridzwan said waqf plays a key role in building community assets, mobilising substantial funds to strengthen the ummah’s economy.

He added that waqf-based hotels, for example, generate revenue and create local employment, benefiting asnaf and B40 groups.

“The existence of commercial waqf assets also provides economic spillover for small traders supplying goods and services to these premises,” he said.

-- BERNAMA