Sharia-compliant investment finance occupies an advanced position in contemporary research, whereas philanthropic finance has not been paid much attention. Hence, I have participated in this meeting with this paper, in which I try to explore the inexhaustible stock of saving financial resources serving economic development. Zakat and Waqf are the main pillars of the development and expansion of the third sector as a complement to the public and private sectors. This can be achieved only through capacity building of both institutions and their support under a comprehensive legal and regulatory framework.