MAIDAM INTRODUCES INNOVATIVE WAKAF INITIATIVES IN TERENGGANU

KUALA TERENGGANU, Oct 23 (Bernama) -- The Terengganu Islamic Religious and Malay Customs Council (MAIDAM) has introduced several innovative and contemporary initiatives to boost public participation in ‘wakaf’ (endowment) contributions.

Its president Datuk Shaikh Harun Shaikh Ismail said these include wakaf funding through a combination of financial market instruments and wakaf, focusing on low-risk investments such as the MyWakaf Unit Trust under Amanah Saham Nasional Bhd (ASNB).

He said MAIDAM had also embarked on strategic collaborations with partners such as Showme Kidz International Sdn Bhd and the Central Terengganu Development Authority (KETENGAH) to enhance wakaf funding in education, religion and community socio-economic development.

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“MAIDAM is also diversifying its wakaf instruments to strengthen funding through cooperation with Bank Simpanan Nasional (BSN) for wakaf collection based on account holder ‘hibah’ (gift) contributions. This cooperation will continue through promotions, advertising and various programmes,” he said at the launch of the 2025 State-level Wakaf Month in Terengganu here today.

The event was officiated by the Yang Dipertuan Muda of Terengganu, Tengku Muhammad Ismail Sultan Mizan.

Also present was Tengku Setia Mahkota Raja Tengku Muhammad Mua’az Sultan Mizan, accompanied by Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar.

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Shaikh Harun said that to strengthen the Wakaf Zuriat (family endowment), MAIDAM’s management would optimise the use of all assets to generate revenue through rentals, development, leasing and other means.

He added that through MAIDAM’s digitalisation drive, various wakaf initiatives had been enhanced with technology, including E-Wakaf Zuriat.

“The establishment of family offices for each wakaf zuriat will also be implemented to ensure good governance. The E-Wakaf Zuriat technology, for instance, is one of Malaysia’s pioneering digital initiatives in the governance of family wakaf,” he said.

Shaikh Harun said MAIDAM had shown positive progress in wakaf governance over the past few years.

According to him, Terengganu currently has 1,336 wakaf land lots covering about 832 hectares, with asset values exceeding RM200 million.

Among the wakaf projects that have drawn wide attention is the construction of Hotel Grand Puteri in Kuala Terengganu, built on MAIDAM wakaf land and operating since 2013.

“Another notable project is the construction of 16 chalet units on land endowed by the late Sultan Omar in Kampung Serdang Baru.

“The proceeds from the operation of these chalets will be channelled towards educational benefits. The project is under construction and expected to be completed by October next year,” he said.

Shaikh Harun added that the organisation of the Wakaf Month aimed to foster understanding and active public participation in strengthening the state’s wakaf agenda.

He said it was also in line with the Federal Government’s call through the Department of Wakaf, Zakat and Haj (JAWHAR) for state Islamic religious councils to intensify education and promotion of wakaf initiatives in their respective states.

“According to findings from the Malaysian Journal for Islamic Studies 2025, public awareness of wakaf contributions in Terengganu remains lower than in other states such as Selangor.

“Therefore, the organisation of the Wakaf Month is expected to raise awareness and understanding among all segments of society on the importance of wakaf as an instrument of economic development for the Muslim ummah,” he said.

-- BERNAMA