Islamic Bank and Malaysian "Laboan" Collaborate on Free Zone Endowments

The Islamic Development Bank Institute and the Labuan Financial Services Authority in Malaysia signed a Memorandum of Understanding to explore the application of the free zones concept to waqf (endowment) within the Labuan International Business and Financial Centre. The collaboration aims to integrate waqf principles within the free zones framework, with the goal of easing the mobilization of waqf assets and promoting sustainable development through innovative governance structures and modern financial mechanisms, while preserving the permanent charitable nature of waqf. This initiative represents an important step toward developing development solutions that conform to Islamic Shariah and support economic growth in the member countries.

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تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي

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