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Muhammed

Abdul Khalid

3 Nov 2011

Presented at

WACANA ULUL

ALBAB,

Yayasan IslamPulau Pinang

(YIPP)

MEMETA HALATUJU

WAKAF PULAU PINANG

WAKAF CONTRIBUTIONS TOWARDS

PENANG MALAY SOCIO-ECONOMIC

DEVELOPMENT

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Current Status

Policy InterventionsPolicy Recommendations

OUTLINE

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44.9

33.4

44.3

54.9

10.8 11.7

Population Voters

Bumi Chinese Indian&Others

BACKGROUND

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Sumber: Pejabat Tanah dan Galian

4

LAND OWNERSHIP

1.4%

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29

16

42

75

No edu PMR SPM Sijil/Diploma Degree

EDUCATION LEVEL

Source: HIS 2009

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1816

7

11

39

6

4

Homemakers Technicians Agricultural Elementary Others Senior Mgmt Professionals

SMALL NUMBERS OF HIGH PAYING JOBS

Note: Others refers to clerical, machine operators, craft and related trade, service, shops,

Source: HIS 2009

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83 118 132 175

229

116

713 749

856791

1023

708

2005 2006 2007 2008 2009 2010

Bumi Cina

ISSUES OF BUSINESS LICENCE BY LOCAL

COUNCILS IN PENANG

Sumber: Bahagian Penyertaan Bumiputera Pulau Pinang, 2010

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Median h/h wages :

RM 2,000 [RM 1,000 each]

Dividend and interest

33% has nothing

Median RM 450

Income shock : Big Problem!

WAGES AND FINANCIAL ASSETS

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RESERVES VERY LOW

21,508

51,122

30, 332

Bumi Cina India

Purata Simpanan KWSP

Source: EPF Annual Report 2008

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WHAT HAVE WE DONETO ADDRESS THIS

ISSUE?

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Govt Intervention1. Penang Bumiputra Coordination & Participation Unit2. Yayasan Bumiputra Pulau Pinang3. PERDA4. Yayasan Aset Bumiputera

State1. Majlis Agama Islam [Pusat Zakat/Wakaf ]

NGOs1. DPMPP2. PEMENANG3. Koperasi Gabungan Negeri4. Persatuan Anak Melayu PP di KL/Sgor

POLICY RESPONSES

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Incentives and Motivations

Issues [individual, politicians,

stakeholders]

Time mismatch

Overlapping agencies [and

lack of monitoring]

WHY THE PROBLEM STILL EXIST?

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Streamline the agencies

Ensure only capable and professional run

these organization

Must have an independent monitoring agency

[pressure group]

WHAT ARE THE SOLUTIONS

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POLICY RESPONSE

1. Zaaba Poverty [Income, ambition, education, leadership]

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Invest in most profitable investment education

Second most effective property assets

- Wakaf land in Penang = 90 acres [Bharian 2006]

Capitalization of wakaf land

- Capital can be raised via issuance of Sukuk [wakaf]

with wakaf land as the underlying assets [ i.e.

Singapore experience]

- Land swap- Istibdal [most of wakaf land used formosque,surau,cemetary]

HOW WAKAF CAN ADDRESS THE ISSUE

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THANK YOU