KUCHING: Higher education institutions should look at alternative funding sources to supplement operating expenditure.
Universiti Malaysia Sarawak (UNIMAS) vice chancellor Professor Datuk Dr Mohamad Kadim Suaidi said that universities should utilise waqf and endowment as a stable source of alternative funding.
“The Ministry of Higher Education also urged universities to look for alternative funds, waqf, endowment, infaq and any other contributions to ensure that the university functions optimally.
“This is particularly important for public universities, which often face financial challenges.
“The survival of higher education institutions cannot depend solely on the government funding,” he said during the opening ceremony of International Conference on Waqf and Endowment (ICWE) 2023 here yesterday.
He further highlighted the benefits of waqf and endowment, which could support research initiatives and academic programmes that might not receive funding, as well as provide scholarships and financial aid for students who could not afford a university education.
“From 2016 until today, a total of 6,754 students have benefited from UNIMAS endowment totalling more than RM11 million,” he said.
The two-day conference from March 16 to 17 is being attended by over 300 participants from various fields including industry players, medical officers, lecturers, government and private officials, students, organisation leaders, entrepreneurs, philanthropists and the public.
Several countries including Palestine, Turkey, Indonesia, Malaysia, Egypt, Senegal, China, India, Bangladesh, and Pakistan, are involved as presenters, moderators, and participants for the event.
The conference will cover the importance of waqf and endowment, innovative strategies, corporate development, governance, management, and the positive impact on society, health services, and achieving sustainable development goals.
