Muhammad Faishal Ibrahim on management of wakaf assets
There are clear governance mechanisms in place to ensure that wakaf assets remain financially sustainable and are managed with accountability and transparency, said Acting Minister-in-charge of Muslim Affairs Muhammad Faishal Ibrahim, outlining three measures in doing so. Replying to an MP’s questions in parliament on Thursday (Feb 26), he added that wakaf management has indeed become more challenging over the years amid rising costs and development needs. He also said that authorities strive to keep rents of these assets affordable, while performing their fiduciary duty to ensure sufficient financial returns for the wakaf beneficiaries.
There are clear governance mechanisms in place to ensure that wakaf assets remain financially sustainable and are managed with accountability and transparency, said Acting Minister-in-charge of Muslim Affairs Muhammad Faishal Ibrahim, outlining three measures in doing so. Replying to an MP’s questions in parliament on Thursday (Feb 26), he added that wakaf management has indeed become more challenging over the years amid rising costs and development needs. He also said that authorities strive to keep rents of these assets affordable, while performing their fiduciary duty to ensure sufficient financial returns for the wakaf beneficiaries.
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