4. Theses

This project paper aims to explore the utilisation of ISF instruments to fund orphans for tertiary education in Malaysia in achieving reduced inequality. Orphans in Malaysia often face significant obstacles in accessing higher education due to their financial circumstances, which perpetuates the cycle of poverty and inequality. The three main purposes of this study are (i) to study the challenges faced by orphans in Malaysia to obtain tertiary education to achieve SDG No. 10 (Reduced Inequalities); (ii) to analyse the role of Islamic finance in other countries in eliminating financial challenges faced to provide tertiary education to orphans; and (iii) to explore the potential of ISF in providing financing opportunities for orphans' tertiary education in Malaysia. ISF provides a framework for using socially responsible financial instruments to address social issues and promote equity. The qualitative research methodology has been identified as the main methodology throughout this research. The findings suggest that ISF can be an effective means of funding tertiary education for orphans in Malaysia as the financial burden on orphans can be alleviated, while also promoting social responsibility among the broader community. This project paper highlights the potential of ISF as a tool for promoting equity in education and addressing social issues in Malaysia. The findings can provide guidance to the policymakers, educators, and ISF institutions on the effective implementation of ISF to fund tertiary education for orphans, thus promoting inclusive growth and development.