Operationalising corporate waqf

INCEIF, The Global University of Islamic Finance, and Iqra Foundation today held a dialogue on operationalising corporate waqf.

The main purpose of the dialogue was to brainstorm and share each other’s experience and knowledge on corporate waqf.

INCEIF President & CEO Mr Daud Vicary Abdullah and Iqra Foundation trustee member Dato’ Seri Idris Jusoh set the tone for the dialogue through their opening remarks.

Dato Seri Idris Jusoh moderated the dialogue attended by 43 participants from INCEIF, Iqra Foundation, Bank Negara Malaysia, Angkasa (The Malaysian National Co-operative Movement) and several local universities.


The participants at the dialogue on corporate waqf.

Three speakers presented their perspectives through individual presentations.

Iqra Foundation trustee member Tan Sri Muhammad Ali Hashim spoke on “Corporate Waqf: Concept, Practice and Role”. Acknowledged as the pioneer of corporate waqf,  which he had championed in his previous role as president and chief executive of Johor Corporation, Tan Sri Ali elaborated on his experience to date. He also expressed his hope to replicate the success of corporate waqf at Johor Corporation elsewhere in Malaysia.

INCEIF Professor of Comparative History Professor Murat Cizakca shared his vision for corporate waqf, taking a leaf from the successful implementation of corporate waqf in his home country of Turkey. The third speaker was Advocate and Solicitor Dr Tunku Alina Alias who spoke on “Legal aspects of the corporate waqf”.

Prof Murat presenting his paper at the dialogue.

Participants at the dialogue, included a number of bankers, who actively shared their concerns and ideas on how to successfully implement and administer corporate waqf. The discussion also touched on the current challenges faced by the promoters of corporate waqf, most pressing of which those concerning the tax and law issues.

Following the dialogue, INCEIF and Iqra Foundation decided to meet again as both parties are committed in finding solutions in order to move forward the agenda of the corporate waqf.

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