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Ladies and gentlemen,
Social finance has gained traction worldwide in recent years. Islamic social finance should be able to spearhead this new consciousness as social and ethical considerations form the very bedrock of Islamic finance. And waqf has the potential to be an important instrument of Islamic social finance. It has immense potential to be used to achieve socio economic development goals in addressing poverty, unemployment, as well as financing of healthcare, education, and infrastructure development. Today, as the economy evolves, the application of Waqf features in Islamic finance products have shown that it can deliver the desired impact on the community, while combining the search for profit or reasonable returns with greater sense of purpose as dictated in Islam.
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