NILAI – The Public University Income Sustainability through the Integration of Zakat (tithe), Waqf and Endowment (IZaWEn) module is set to enhance the management of zakat, waqf, and endowment.
According to BERNAMA News Agency, Datuk Mohammad Yusof Apdal. This initiative is seen as a key step in ensuring the financial sustainability of institutions of higher learning (IPTs).
Mohammad Yusof stated that the implementation of the IZaWEn module aligns with the scope of IPTs and is crucial for their sustainability. He highlighted the importance of tertiary education in producing future leaders and emphasized the need for universities to manage their finances more sustainably. “Waqf and endowment is not just a one-year or two-year job. It needs to be mobilized together with the universities’ board of directors, vice-chancellors as well as all the staff and students and community members,” he remarked.
The deputy minister made these comments during his speech at the launch of IZaWEn, which was officiated by Tunku Besar Seri Menanti and Pro-Chancellor of Universiti Sains Islam Malaysia (USIM), Tunku Ali Redhauddin Tuanku Muhriz. The IZaWEn module, comprising 18 topics detailing the management of zakat, waqf, and endowment, draws on the ideas of renowned experts, industry players, and the involvement of respective state Islamic religious councils.
The initiative, organized by the Higher Education Leadership Academy (AKEPT), is a collaborative effort involving USIM and Universiti Malaysia Terengganu (UMT), aiming to engage all public and private universities as well as related agencies.
Mohammad Yusof also mentioned that in support of this effort, the Higher Education Ministry (MOHE), through a top management meeting on August 23, approved the establishment of the Public University Waqf, Endowment and Zakat Council (MAWEZ). This council is expected to be a driving force in empowering and consolidating waqf, endowment, and zakat management at public universities, with a sustainable funding strategy to ensure optimal functioning of the universities.
Concluding his speech, the deputy minister expressed confidence that the launch of the IZaWEn module and the establishment of MAWEZ will significantly strengthen the management of zakat, waqf, and endowment, ultimately benefiting the country.