KUALA LUMPUR, April 13 — In order to increase the country’s waqf fund savings and assets, Tan Sri Muhyiddin Yassin said an initiative has to be formulated at the federal level to encourage civil servants to make waqf (endowment) contributions, especially periodically through salary deductions.
The prime minister said this was among the four main points outlined in an effort to ensure that waqf becomes an important element in helping the country’s economy.
In this regard, he said ministry secretaries-general and heads of departments and agencies at the federal level should play a role in encouraging officers and staff under their charge to make waqf donations.
Muhyiddin said Chief Secretary to the Government Tan Sri Mohd Zuki Ali has approved the General Circular No 1/ 2020: Procedures to Implement Cash Waqff Donation Through Voluntary Salary Deductions for Public Officers serving in Federal Territories and states.
“The same goes for banking and financial institutions in assisting to diversify waqff platforms. Islamic financial institutions should make waqf an element that adds value to their financial products and services,” he said.