TABLE OF CONTENTS. CONTENT PAGES1. INTRODUCTION 32. COMPARISON BETWEEN WAQF AND OTHER CONCEPTS53. THE ROLES OF THE WAQF64. DEFICIENCIES OF THE WAQF IN MALAYSIA.75. RECOMMENDATIONS 86. CONCLUSION 97. REFERENCES 10THE ROLE OF BAITULMAL FOR DEVELOPMENT IN THE NEW ERAINTRODUCTIONBaitulmal is usually known as a charitable institution and a collection center of the entire amount from the contribution of zakat and waqf from many sources. Baitulmal in Malaysia usually acts as assistance, charitable contribution and donations to the public. Based on the original role of baitulmal, it covers a broader role than the current concept of baitulmal. In the Malaysian context, Baitulmal is limited by legal constraints and not many of us know about the existence of baitulmal and its function. Baiulmal usually gives visibility to one's job scope and function to other people so that they know when they can refer to this institution, actually. In the Arabic term, baitulmal is "bayt al-mal" which means house of money or house of money. wealth. In early Islam, we can see that Baitulmal was the only treasury center of the state. And in historical Islam it shows that the baitulmal institution, especially zakat, has an important role in promoting the economy of Muslims. But now, after a long time, the function of baitulmal is improving and widely used by Muslim people. Baitulmal is responsible for distributing the money and donating it to those who need it and also distributes a part of it to other places like mosque, old age home and also to any orphanage. At the same time, baitulmal wants to optimize the user of all resources by going on the right path and the person who is responsible...... middle of paper...... waqf contribution. This kind of charity continues even after the death of the donor, that is, as long as people continue to benefit from the waqf, the person who makes the waqf will receive the reward from HIM. The concept of an Islamic state and the institution of the treasury may not be separated. The word baitulmal itself is not mentioned in the Quran clearly and specifically, but the source of the flow of funds to Baitulmal is specified one by one in the Quran. Ultimately, we will see Baitulmal's purpose achieve its goal or not, which is to improve the country's economic development, meet society's basic needs and alleviate poverty in Malaysia. Baitulmal assets are a trust of God and the property of all Muslims. in this case, the caliph or Muslim ruler of whom he is a trustee must take care of the property of Muslims.