KUCHING: A proposal has been made to the Sarawak government to merge commercial finance with Wakaf Finance, also known as ‘Social Finance’, to establish a Digital Wakaf Bank in Malaysia.
QMIS Richwood Blacktech Sdn Bhd chairman Dr Mazlan Ahmad said the idea behind the Digital Wakaf Bank is aimed to tackle economic challenges and reach out to those often left out of financial systems, termed as the ‘underserved’ or ‘unserved’ segments.
“We need a solid foundation for the Digital Wakaf Bank. This will help nurture countless Wakaf entrepreneurs,” he said after paying courtesy call to Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg at Wisma Bapa Malaysia today (Sept 4).
He clarified that the concept of a Wakaf entrepreneur is distinct from a Zakat entrepreneur. In this model, individuals, acting as entrepreneurs, willingly contribute a portion of their earnings for the benefit of the community, government, state, and the wider public.
Dr. Mazlan believed that this initiative has the potential to make a significant positive impact not only in Sarawak but across all of Malaysia.
