BANGI, 31 Jan 2013 – Findings by a group of researchers from The National University of Malaysia (UKM) on funds kept by 73 mosques in the country showed they have savings totaling RM4.3 million in banks and financial institutions but were not managed well. Thus earnings from the funds were minimal.
The study “Funds and Assets of Mosques in Malaysia: Towards a Strategic Management” was carried out by Professor Dr Jaafar Ahmad, Associate Prof Dr Sanep Ahmad, Mariani Abdul Majid and Hairunnizam Wahid from the Faculty of Economics and Management.
The team found more than 57% of the 73 mosques received about RM50,000 per year in contributions, 21% between RM50,000 to RM100,000 and the remaining 22% more than RM100,000. About 50% of the contributions were collected during Friday prayers.
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