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Capital: IIWF Redefines Waqf as a Global Asset
Management Mandate
Labuan, Malaysia — 16th October 2025 — Ihsan International Waqf Labuan Foundation (IIWF) has unveiled a bold and transformative initiative to reposition waqf from not just as a traditional act of charitable action into a modern framework for strategic asset management portfolio, socio-economic empowerment, and global wealth stewardship.
Registered under the Labuan Financial Services Authority (Labuan FSA), IIWF operates from one of Asia’s most respected international financial hubs, using Labuan’s regulated ecosystem to bridge Islamic philanthropy and institutional social finance.
This strategic positioning enables IIWF to build global confidence in waqf as a credible financial mechanism for sustainability and impact investment.
“Waqf is not just an act of charity —it is a divine mandate for asset stewardship,” said Hj Aminnurllah Mustapah, CEO and Founder of IIWF. “It represents the Ummah’s portfolio of intergenerational investments—designed to serve humanity in this world and deliver eternal
returns in the Hereafter.
Our goal is to professionalize, mobilize, and globalize waqf assets to generate continuous benefit for communities worldwide.”
Reframing the Waqf Narrative
For centuries, waqf has been viewed primarily as an act of piety and perpetual charity. IIWF seeks to reframe this narrative, positioning waqf as a strategic socio-economic tool capable of driving sustainable development and inclusive growth.
The Foundation’s mission focuses on managing family wealth legacy and activating idle or underutilized waqf assets – transforming them into productive assets that generates perpectual benefits funding such essential sectors as education, healthcare, housing, agriculture, fintech, and urban renewal.
This approach sees waqf not merely as a sacred endowment but as an integrated asset portfolio for the Ummah, to be managed with the same discipline, risk management accountability, and foresight as any profesionally managed asset manager.
“We must shift from preservation to productivity,” Hj Aminnurllah emphasized. “Waqf assets, if strategically managed, can become the economic backbone of our societies—financing education systems, hospitals, social housing, and innovation hubs. It is time to unlock this sleeping capital for the benefit of all.”
Waqf as the Trust Fund of the Ummah
IIWF advocates the idea of waqf as the “Trust Fund of the Ummah”, anchored in Maqasid alShariah—the higher objectives of Islamic law that seek to protect wealth, intellect, life, lineage, and faith.
Its framework also incorporates niyyah (intention) and istibdal (asset transformation) as key enablers for modern asset renewal, ensuring that the spiritual essence of waqf remains intact while adapting to contemporary needs.
Through this balance of faith and financial acumen, IIWF envisions waqf as a dynamic instrument for both socio-economic advancement and spiritual fulfilment—a bridge between the material and the eternal
Dual-Return Investment: Returns in This World and the Hereafter
At the heart of IIWF’s model is the concept of “dual-return investment”—where every waqf initiative aims to generate social impact alongside spiritual reward.
This philosophy redefines Islamic philanthropy as a form of ethical investment that not only alleviates poverty and inequality but also builds enduring spiritual value for donors, trustees, and communities.
“In a waqf-driven economy, wealth is not stored—it is circulated. Finance is not a tool of profit—it is a vehicle of purpose. Every ringgit becomes a legacy, not just a transaction,” Hj Aminnurllah explained.
This dual-return philosophy encourages donors, institutions, and investors to see waqf as a long-term sustainability mechanism, aligning spiritual consciousness with economic growth and responsible asset management.
Governance, Transparency, and Professional Management
To sustain public trust and attract institutional participation, IIWF places strong emphasis on
governance and transparency. Its model incorporates:
- Professional Asset Management, executed through partnerships with GLICs
(Government-Linked Investment Companies) and specialized Waqf Investment
Boards. - Transparent Governance Frameworks, equipped with performance KPIs, annual
audits, and social impact metrics. - Diversified Investment Portfolios, encompassing real estate, sukuk, agriculture,
fintech, and sustainable ventures. - Community Reinvestment Mechanisms, ensuring that returns are recycled into
projects that uplift communities, strengthen education, and promote financial
inclusion. - By adopting these professional standards, IIWF positions waqf as an institutionally
credible asset class—capable of attracting collaboration from global investors,
philanthropic funds, and development agencies seeking measurable impact.
A Global Call for Collaboration
Through its Labuan-based platform, IIWF aims to aggregate, curate, and connect waqf projects worldwide. The Foundation envisions a global digital ecosystem similar to an “Islamic Impact Exchange”, where waqf projects, funders, and operators can collaborate under transparent governance and shared objectives.
The platform will serve as a bridge between policy, finance, and faith-based development, facilitating co-investments between Islamic financial institutions, sovereign entities, and
philanthropic networks.
“If we treated waqf as a national investment portfolio, how much of it supports education, health, or innovation—and how do we measure returns not just in currency, but in lives transformed and legacies built?” Hj Aminnurllah remarked. “This is the mindset shift we want to inspire across the Muslim world and beyond.”
Labuan’s Advantage and IIWF’s Global Mission
Labuan’s status as a regulated international financial centre under the supervision of Labuan FSA gives IIWF a unique platform to build global partnerships and attract cross-border participation. The jurisdiction’s Islamic finance-friendly framework, robust governance standards, and tax-neutral environment provide the ideal foundation for waqf innovation and international collaboration.
By combining Shariah compliance, institutional credibility, and global reach, IIWF stands poised to become a catalyst for waqf revitalization—connecting philanthropic intent with strategic investment for the greater good of humanity.
About Ihsan International Waqf Labuan Foundation (IIWF)
Ihsan International Waqf Labuan Foundation (IIWF) is a Shariah-compliant foundation registered under the Labuan Financial Services Authority (Labuan FSA). IIWF’s mission is to link and strengthen global waqf institutions, support local and regional waqf projects, and establish a global waqf aggregator platform promoting transparency, collaboration, and sustainable asset management.
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