Muis plans Cash Endowment Scheme
Published on: Friday, November 25, 2016
Kota Kinabalu: SABAH Islamic Religious Council (Muis) plans to come up with a Cash Endowment Scheme (Skim Waqaf Tunai) that could raise and collect funds that can be channelled to those in need of assistance and building necessary infrastructures and facilities for public use.Assistant Minister to the Chief Minister Datuk Mohd Arifin Mohd Arif said Muis is working closely with the Sabah Islamic Religious Affairs Department (Jheains) and University Malaysia Sabah (UMS) on the proposal.He said the Waqaf Division and Baitul Mal under Muis are currently studying the proposed scheme.
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According to Arifin, the waqaf concept was stated in the holy Quran since 15 decades ago and its success was proven with the establishment of Al-Azhar University in 970BC and Oxford University in 1096BC."Both prominent higher learning institutions were the benchmark on how the waqaf concept or known as endowment by the Western society is capable of contributing to the economic system, apart from business field."Waqaf based on love, caring and responsibilities is able to help those underprivileged people to enjoy a better life. Stay up-to-date by following Daily Express’s Telegram channel.
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Arifin said this in reply to Bongawan Assemblyman Datuk Mohamad Alamin during question time at the State Legislative Assembly.
