KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has urged Islamic Religious Councils in the country to utilise the expertise of financial industry players to enhance the efficiency of their expenditure management.
The Finance Minister said such a measure is necessary to avoid investments in unprofitable ventures.
“There’s nothing wrong with Islamic Religious Council management seeking expertise from Maybank, SC (Securities Commission Malaysia), Bursa Malaysia, or major corporations for advice. They will provide input and also consider it from a syariah perspective.
“But this isn’t happening because everyone operates in silos. They end up investing in unprofitable areas due to a lack of expertise in the field,” he said at the ‘Forum Ilmuwan Malaysia MADANI KPT Series Four: Using Technology in Financial Services to Drive Prosperity and Inclusivity’ here yesterday.
Elaborating further, Anwar said this approach is also being implemented by his administration.
Meanwhile, the Prime Minister reminded Islamic Religious Councils to manage zakat funds efficiently, particularly to avoid overlapping with other agencies.
