EQ8 CAPITAL, YWM DEBUT WORLD’S FIRST WAQF ETF ON BURSA MALAYSIA

KUALA LUMPUR, Dec 10 (Bernama) -- Kenanga Investors Bhd’s wholly owned subsidiary, Eq8 Capital Sdn Bhd, and Yayasan Waqaf Malaysia (YWM) today launched the world’s first Waqf-featured exchange-traded fund (ETF). 

The Eq8 FTSE Malaysia Enhanced Dividend Waqf ETF (EQ8WAQF) is listed on Bursa Malaysia Securities Bhd's Main Market, debuted at a 2 sen premium above its issue price of RM1.00, with 4,000 shares traded.

Eq8 Executive Director Syed Umar Abdul Rahman Alhadad said the Waqf ETF aims to distribute income annually, with half allocated as Waqf assets and the remaining half paid to unit holders. 

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He noted that the Waqf ETF offers investors the opportunity to achieve dual impact investing goals.

“EQ8WAQF features an index-led scheme that generates dividends from a thoughtfully designed index combining an income-focused strategy with a momentum-based approach.

“It is not classified as a sophisticated product; it is open to all faiths and countries with access to the Malaysian exchange. This is the key differentiator of this Waqf ETF compared to other Waqf funds on the market,” he told a press conference after the listing ceremony.

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The ceremony was attended by Minister in the Prime Minister's Department (Religious Affairs) Datuk Mohd Na'im Mokhtar, Bursa Malaysia chairman Tan Sri Abdul Wahid Omar, Kenanga Investors executive director and chief executive officer (CEO) Datuk Ismitz Matthew de Alwis, and YWM CEO Dr Ridzwan Bakar.

Meanwhile, Dr Ridzwan emphasised that Waqf is not exclusive to Muslims but is a universal concept and an integral part of Islamic finance and social finance that should be championed.

“Malaysia has the ability to champion Islamic finance, and we believe we can also lead in Islamic social finance through Waqf,” he said.

The Waqf ETF is the fifth addition to Eq8's ETF product suite, making it Malaysia's largest ETF issuer.

-- BERNAMA