Bank Muamalat, Maik introduce ‘waqf’ fund
KOTA BARU: Bank Muamalat Malaysia Bhd yesterday launched a waqf fund in collaboration with the Kelantan Islamic Religious and Malay Customs Council (Maik).
The fund, called “Wakaf Maik Muamalat”, aims to encourage people to donate and help the development of Muslims’ economy in the state.
The fund was officially launched by Regent of Kelantan Tengku Dr Muhammad Faiz Petra, who is also Maik president.
Maik deputy president Dr Nik Mohd Azlan Abd Hadi said he hoped the fund, which was supported by five other Islamic banks, would benefit the people.
“We will focus on four sectors — economic empowerment, education, health and investment.
“Our first project will be the setting up of a mu’alaf (converts) centre in Tumpat.”
Bank Muamalat Malaysia chief executive officer Datuk Mohd Redza Shah Abdul Wahid said through the collaboration, Bank Muamalat would work with the five other banks to use banking channels for customers to contribute to the fund, especially in Kelantan.
The five banks are Affin Bank Bhd, Bank Islam Malaysia Bhd, Bank Kerjasama Rakyat Malaysia Bhd, Maybank Islamic Bhd and RHB Islamic Bank Bhd.
“From the banks, the collection will be handled by a joint management committee. The committee will also plan and conduct activities or projects suitable for the waqf fund,” Redza said.
He also presented a RM500,000 cheque to Maik from “Wakaf Maik Muamalat”.
Present were Wakaf Maik Muamalat joint management committee chairman Tengku Tan Sri Mohamad Rizam Tengku Abdul Aziz and Kelantan Mufti Datuk Mohamad Shukri Mohamad.