PUTRAJAYA: The government agreed to establish Majlis Amanah Rakyat (Mara) waqaf endowment fund, allocating a grant of RM100 million for its establishment.
Prime Minister Datuk Seri Anwar Ibrahim said a waqaf fund targets RM1 billion for two years, to be spearheaded by Mara and executed by the Mara Education Foundation.
"The Mara Madani Endowment will benefit 70.1 per cent of the Bumiputera population and ensure the assurance of education, welfare, health, entrepreneurship and transportation, which are increasingly challenging in this new era.
He said His Majesty Sultan Ibrahim King of Malaysia has consented to be its patron.
"The progress of the Mara Madani Endowment will be regularly reported to the Conference of Rulers," Anwar said at the closing ceremony of the Bumiputera Economic Congress 2024, here today.
He said the government has also agreed to extend tax incentives for stock-based waqaf initiatives such as Wakaf Amanah Saham Nasional Bhd and Waqaf An-Nur under Johor Corporation.
