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Wakaf Selangor Muamalat Eyes RM4-5 Million Wakaf Funds

KUALA LUMPUR, July 9 (Bernama) -- Wakaf Selangor Muamalat (WSM) aims to collect RM4 million to RM5 million in Wakaf funds by the end of its current financial year ending March 31, 2014 to enable it to implement more Wakaf projects.

WSM is a strategic cooperation between Bank Muamalat Malaysia Bhd and Perbadanan Wakaf Selangor (PWS) to collect and manage Wakaf funds for the public.

Bank Muamalat Chief Executive Officer Datuk Mohd Redza Shah Abdul Wahid said for the eight months since the launch of WMS in September last year, the fund had collected more than RM2.1 million.

"We hope with a good size of Wakaf fund, WSM will be able to implement more Wakaf projects, which would make a bigger impact on the community as a whole," he said at a cheque presentation to WSM by MAA Takaful here today.

Currently, among the projects that had been implemented were sponsorship of medical equipment to Sungai Buloh Hospital and sponsorship of dormitory equipment to the Wal Ulumuddin religious school.

The projects that are under planning are Wakaf mobile clinic serving Kuala Selangor and the sponsorship of two dialysis machines to Nurul Ain Dialysis Clinic.

In addition, WMS will sponsor one embosser machine for the printing of Braille Al-Quran to the Islamic Association of the Visually Impaired, Malaysia (Pertis) and a Wakaf hospital in the next two to three years.



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Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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