PETALING JAYA: The Securities Commission (SC) has launched a new framework to facilitate the offering of Islamic funds with waqf features to enable the growth of the Islamic social finance segment.
The capital market regulator said the development of waqf, which is an Islamic endowment instrument typically linked with social development and philanthropic objectives, was identified as one area of significant potential for social development, greater public good and wealth distribution, in the SC’s Islamic fund and wealth management blueprint, launched in 2017.