Economist: Waqf can complement fiscal policy gap

Waqf, a charitable endowment in the form of funds or properties, has the potential to ease the federal government's fiscal deficit burden and can act as an instrument to reduce the country's spending and gradually minimise funding gaps.

It could also complement fiscal policy as Waqf helps to alleviate the financial burden among the needy; and if implemented correctly to reach certain economies of scale, it could ensure economic prosperity for all, said Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid.

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