Development of Waqf Higher Education in Malaysia

Waqf has a great potential in developing the economy of the people and the country. Waqf has a dynamic characteristic in organizing socioeconomics of the community and thus contributing positively to the development of a nation. History has proven that waqf is able to help improve the economic, educational and social standards of Muslims. The role of waqf in developing educational institutions should be given priority in ensuring the opportunities for people who want to pursue higher education. Seen from the point of view of history, the role of waqf in developing and uplifting institutions of learning and producing thousands of Intellectual and famous scholars worldwide, especially in the field of religion, is undeniable. The goal of establishing a higher education institution through the concept of waqf from world famous universities such as the al-Qarawiyy University in Fez, Morocco, al-Azhar University, Egypt, Cordova University in Spain and al-Fateh University, Turkey. This paper examines the role of waqf in developing educational institutions that are able to survive and generate to the development and human life, even waqf is also able to relieve the cost of the government and its generating ability own income.