ĶOTA BARU: Bank Muamalat Malaysia Bhd today launched a cash waqf fund, in collaboration with Kelantan Islamic Religious and Malay Customs Council (Maik).
The fund, called 'Wakaf Maik Muamalat', is aimed to encourage the public to donate and assist in developing the economy of Muslims in the state.
The waqf fund was officially launched by the Regent of Kelantan, Tengku Dr Muhammad Faiz Petra, who is also Maik president.
Maik deputy president Dr Nik Mohd Azlan Abdul Aziz said he hoped the fund, supported by five other Malaysian Islamic banks, would generate positive impact and benefit the people.
"We will be focusing on four sectors which included economic empowerment, education, health and investment.
"Our first project will be to set up a mualaf centre in Tumpat," he said.
Bank Muamalat Malaysia Bhd chief executive officer Datuk Mohd Redza Shah Abdul Wahid said through this collaboration, the bank would work closely with the five banks, in terms of utilising the banking channels for customers' use, especially in Kelantan.
The five participating banks are Affin Bank Berhad, Bank Islam Malaysia Berhad, Bank Kerjasama Rakyat Malaysia Berhad, Maybank Islamic Berhad and RHB Islamic Bank Berhad.
"From the banks, the collection will be handled by a joint management committee.
"The committee will also list out the plan and conduct activities or projects suitable for the waqf fund," he said.
Later, Mohd Redza presented a cheque of RM500,000 to Maik from the 'Wakaf Maik Muamalat'.
Also present were Wakaf MAIK Muamalat joint management committee chairman Tengku Tan Sri Mohamad Rizam Tengku Abdul Aziz and Kelantan Mufti Datuk Mohamad Shukri Mohamad.