myWakaf Initiative

myWakaf is an inclusive economic instrument that based on philanthropic value in order to achieve its objective; best serve all members of society particularly the underserved, to have an access of quality essential services and assistant in fulfilling their needs towards shared prosperity.

Waqf, under the purview of State Islamic Religious Council (SIRC) is an important tool of financial inclusion and economic growth. To maximize its potential, Waqf needs to be managed efficiently and professionally.

Bank Negara Malaysia (BNM) through the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) has called for Islamic Banks’ participation in collaborating and standardising Waqf Fund initiative action plan between Islamic Banks and SIRC in developing the potential of Waqf and empower the economy of ummah in Malaysia. Currently, there are six Islamic Banks have been involved in the implementation of Waqf which consists of Affin Islamic Bank Berhad, Bank Islam Malaysia Berhad, Bank Kerjasama Rakyat Malaysia Berhad, Bank Muamalat Malaysia Berhad, Maybank Islamic Berhad and RHB Islamic Malaysia Berhad.

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