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Waqf Chair To Be Set Up At UM

Last update: 24/02/2018
KUALA LUMPUR, Feb 23 (Bernama) -- A waqf Chair will be set up at University Malaya (UM) given the university's impressive achievement in the QS World University Rankings, says Higher Education Minister Datuk Seri Idris Jusoh.

Speaking at the Higher Education Forum 2018, Islamic Economies@4IR: Waqf Revival here, he said the nation's oldest university was now 114th in the rankings and was poised to reach the top 100 in the world soon.

"The person who will be selected as the first holder of the Chair must take into consideration the key points of this forum, especially the Royal Address," he said at the forum which was officially launched by Sultan of Perak Sultan Nazrin Shah.

In his speech, Idris said the purpose of the forum was to revive waqf as a viable, sustainable and progressive tool for the modern economy and its financial framework.

He said the forum also served as a platform for collaboration, discussion and debate and a gathering of top minds to come up with ideas and innovations on how best to revive waqf for this contemporary period.

The forum saw the participation of six local and nine international speakers, as well as four moderators from Turkey, the United Kingdom, Saudi Arabia, Indonesia, India and Malaysia in sharing knowledge in their areas of expertise.

Idris said embracing waqf was an important part of the ministry's efforts to redesign higher education and embrace the Fourth Industrial Revolution (4IR) as higher education institutions played a vital role in catalysing and providing the ecosystem for the revival of waqf.

"Waqf can also enable the higher education ecosystem to diversify sources of income for the universities and achieve financial stability. This is one of the goals as outlined in shift No. 5 in the Malaysia Education Blueprint 2015-2025 (Higher Education)," Idris added.

To date, 14 of the public universities have set up waqf units and begun collecting waqf contributions, he said, adding that they were working closely with the respective State Islamic Councils.

"This noble effort would go towards students' scholarships and welfare as well as teaching, research and development endeavours," he added.