Waqf Contribution Opportunity in Malaysia

by: Tuan Muhd Taufik Tuan Hussin

Introduction

Waqf initiative in Malaysia can be considered as relatively in the early stage where
people have just started to realize the importance of Waqf. In line with the development
and the current situation in Malaysia where traditionally, the most popular assets
considered as suitable for Waqf is land, the religious authority in Malaysia has recently
allowed Waqf in the form of cash. In principle, all Waqf property in Malaysia must be
registered with the state religious authority, or the Majlis Agama Islam Negeri (MAIN).

For example, if a person wanted to make his/her land as Waqf, the intention must be
reported to the state’s religious authority and the process of changing the title name to
the religious authority will take place. The governance and custodian of the Waqf
property will effectively be handed to the religious authority or any appointed person by
the religious authority.

Waqf Initiative in Malaysia

One of the most progressive Waqf initiative in Malaysia is in Selangor. In 2009, the
religious authority of Selangor, Majlis Agama Islam Selangor (MAIS) has incorporated
Perbadanan Wakaf Selangor (PWS) to push for more awareness and effectiveness in
managing Waqf properties. Nowadays, PWS has signed Memorandum of
Understanding with one of the local Islamic bank, Bank Muamalat Malaysia Berhad
(BMMB) to establish Wakaf Selangor Muamalat (WSM), a joint venture effort to make
Waqf contribution even easier and convenient for everyone via banking entity.

Options for Waqf

All the above mentioned initiative can be said as government led initiative where the
Waqf creation is tightly controlled by the official government body. They act as
supervisors and owners to the Waqf property. There are also private initiative for Waqf,
for instance the earliest corporate waqf initiative led by state controlled corporate, Johor
Corporation, or better known as JCorp. Under the stewardship of Tan Sri Ali Hashim,
JCorp has been the role model of how corporations should always give portion of their
return back to the society. JCopr has established Wakaf An Nur Corporation Berhad to
be the custodian and supervisor to the Waqf property return and allocation to the needy.
Wakaf An Nur has been famous for the Wakaf An Nur Clinic, where the needy patients
were given subsidized medical treatments.
List of Available Waqf Opportunity:

Wakaf An Nur: http://wancorp.com.my/

Wakaf Selangor: http://www.wakafselangor.gov.my/en2/

Yayasan Wakaf Malaysia: https://www.ywm.gov.my/

Wakaf Selangor Muamalat (WSM): http://www.muamalat.com.my/consumer-

banking/other-services/wakaf-selangor/overview.html