Successful Models of The Exisiting Islamic Social Finance: A Malaysian Experience of Mywakaf Initiatives

This topic highlights Malaysia’s experience in Islamic social finance through the myWakaf initiative, showcasing it as a successful model for waqf-based development. It explains the objectives and rationale of myWakaf, which aims to strengthen waqf management and enhance its socio-economic impact through a structured governance framework.

The initiative is supported by a governance system involving focus groups, working committees, and joint management committees at the project level to ensure effective implementation. It also presents the business model of myWakaf, including strategic partnerships such as Menara Bank Islam, as well as financing mechanisms like end financing and bridging financing.

In addition, the session reviews various waqf projects across Malaysian states such as Kelantan, Terengganu, Perlis, Perak, and Sarawak, along with previous contributions by AIBIM members in waqf development before the establishment of myWakaf. Overall, the initiative demonstrates a coordinated approach to strengthening waqf as a sustainable tool for Islamic social finance.