KUALA LUMPUR, Nov 12 — The newly-launched Waqaf Felda is targeted to manage assets worth RM500 million by 2030.

Felda said for a start, it would be pumping funds worth RM10 million to Waqaf Felda which is expected to be the third force in helping to revive and restore the country’s economy post-Covid-19 pandemic.

"The ecosystem should be able to stimulate the economy by opening job opportunities that would change the country’s economic landscape,” it said in a statement today.

The statement also said that Waqaf Felda which is based on the corporate wakaf concept is also capable of being the instrument to shape a business model that is more sustainable and provides more benefit to the needy through the profits it made.

"Waqaf Felda will nourish the continuity of waqaf as a form of ‘ibadah’ (worship) that would help structure the overall economic system. It would also help restore the glory of the organisation,” said the statement.

Waqaf Felda was launched today by Prime Minister Datuk Seri Ismail Sabri Yaakob. — Bernama