Waqaf Felda to manage RM500 million assets

 

Ismail Sabri Yaakob launching Waqaf Felda, which is based on the corporate wakaf concept, today.

KUALA LUMPUR: The newly-launched Waqaf Felda is targeted to manage assets worth RM500 million by 2030.

Felda said that for a start, it would be pumping funds worth RM10 million to Waqaf Felda which is expected to be the third force in helping to revive and restore the country’s economy post-Covid-19.

“The ecosystem should be able to stimulate the economy by opening job opportunities that will change the country’s economic landscape,” it said in a statement today.

The statement also said Waqaf Felda, which is based on the corporate wakaf concept, is also capable of being the instrument to shape a business model that is more sustainable and provide more benefits to the needy through the profits it makes.

“Waqaf Felda will nourish the continuity of waqaf as a form of ‘ibadah’ (worship) that will help structure the overall economic system. It will also help restore the glory of the organisation,” said the statement.

Waqaf Felda was launched today by Prime Minister Ismail Sabri Yaakob. - FMT