Waqf or its plural awqaf is an Islamic instrument of wealth distribution that if properly structured and administered can provide perpetuate benefit to the entire society. Invariably, the historical significance of waqf in Islamic history cannot be overemphasised albeit the instrument was used to provide everything to the society from hospitals, schools, roads, bridges, orphanage shelters, and others. …
Introduction There are some in our Malay Muslims community still perceive that entrepreneurship is a gift and in-born talents that are rightly belong to other races. This old perception warrants to be changed. One must remember that race has nothing to do with entrepreneurship. One must realise that our beloved Prophet Muhammad (peace be upon him) and his companions (may Allah…
In conjunction with the long year-end school holidays, December is mainly the month of weddings galore. It is a momentous occasion not only for the brides and bridegrooms, but also their respective families and friends, who witness the solemnisation of the couple as husband and wife, and then participate in the subsequent celebrations. Judging by…
October marks the “Financial Literacy Month” in Malaysia. The on-going event is jointly organised by Bank Negara Malaysia (the Central Bank of Malaysia), Federation of Malaysian Consumers Association (FOMCA) and the Associations of Banks in Malaysia (ABM). Having been first organised in 2011, the event is currently in its third year. The theme chosen for…
For the second year running, our 56th Merdeka day this weekend will coincide with the ongoing celebrations of Syawwal. Within the contexts of nationhood and victory—in battling personal desires of every kind, both occasions provide us opportunities to reflect meaningfully on our duties and responsibilities as citizens of this nation as well as Muslims. The…
Many people belief that money is the root of all evils. It the long history of mankind, there had been evidences that money was the cause of destructions in many societies. Inevitably, whether we like it or not, we are living in the age where life seems to be centred around money. It has been…
Malaysia has succeeded in developing a vibrant and modern Islamic banking and financial industry over the last three decades. The Islamic Banking Act, which came into force in 1983, had paved the way for the nation to develop a vibrant and modern Islamic banking and financial industry. Initially, the industry serve as an alternative channel…
Islam enjoins wealth acquisition so long as it is done within the parameters of the Islamic law (Shariah). The wealth, which is acquired through halal sources, that is, from permissible sources and activities sanctioned by the Shariah, will be blessed by Allah the Almighty and hence, will benefit the owner and his family not only…
God says in the Holy Quran : “To those weak of understanding make not over your property, which Allah hath made a means of support for you, but feed and clothe them therewith, and speak to them words of kindness and justice. Make trial of orphans until they reach the age of marriage; if then…
Mankind, by the nature of his creation, is predominated with the love of wealth, and therefore, he may purportedly claim that he is the absolute owner of his wealth. The holy Quran has enlightened this matter, whereby Allah the all-Mighty says: “Indeed mankind, to his Lord, is ungrateful. And indeed, he is to that a…
