PUTRAJAYA: Foundations in the country must not solely depend on donations, but rather enhance their financial standings through investment and business ventures, says Datuk Seri Anwar Ibrahim.

Speaking at the launch of Tabung Kebajikan and Pelajaran Yayasan Wilayah Persekutuan (YWP) here today (June 1), the Prime Minister said funds must be invested wisely.

He added that for such purposes (investment), the foundation needs to engage the participation of experts to contribute their services, expertise and ideas in investment and business ventures.

"Every committee involved in management, investment and education must gain experience and expertise through the engagement of professionals so that the level of management and decisions on investments can be sustained,” he said.

Anwar, who is Finance Minister, said to gain the trust of contributors, the foundation must prepare and submit reports on how their contributions are channelled and who the recipients are.

"The committees will initiate a new tradition - whoever contributes to the foundation, the contributor will receive a report from the management as to how their contributions are channelled or used.

“This is important and I hope YWP will adhere to the practice and such a procedure must be followed by other foundations involved in charity,” he said.

The Prime Minister added that such a move would not only gain the trust of contributors but shows the seriousness of how the committees manage its funds and how it channels such funds to the needy.

He hoped the procedure will be implemented as soon as possible to ensure YWP emerge as a foundation that is equipped with a management procedure that is professional and transparent.

Also present at the launch was the Prime Minister’s wife Datuk Seri Dr Wan Azizah Wan Ismail and YWP executive director Abdul Rahman Siraj. - Bernama