MARA MADANI WAKAF FUND HAS ACCUMULATED RM21.1 MILLION AS OF NOV 13

KUALA LUMPUR, Nov 19 (Bernama) -- The current status of the Majlis Amanah Rakyat (MARA) MADANI Wakaf Fund shows positive progress, with total accumulated funds amounting to RM21.1 million as of Nov 13, says Deputy Minister of Rural and Regional Development Datuk Rubiah Wang.

She said the distribution of the ‘wakaf’ (endowment) funds was expected to begin next year, covering six categories: education, entrepreneurship, welfare, health, transportation, and wakaf assets.

"In 2025, the MARA MADANI Wakaf initiative is expected to benefit 100 individuals in the categories of education, entrepreneurship, welfare, and health.

"With this support, the MARA MADANI Wakaf Fund is hoped to bring greater benefits to the Bumiputera community through quality education and economic opportunities," she said while winding up the debate on the Supply Bill 2025 at the committee stage for the Ministry of Rural and Regional Development (KKDW) in the Dewan Rakyat today.

Rubiah added that MARA was approved as a ‘mutawalli’ (administrator) for the MARA MADANI Wakaf Fund by the Federal Territories Islamic Religious Council (MAIWP) on Aug 21.

In March, the government agreed to establish the MARA MADANI Wakaf Fund, with a target of RM1 billion within two years to empower the Bumiputera agenda.

Meanwhile, Rubiah said seven bidders had expressed interest in purchasing the commercial mixed-development project building at Felcra, Semarak 20.

She noted that two companies had submitted bids thus far, but all proposals were still under internal committee review.

"The government decided to sell the asset entirely to ensure effective administration and overall development management of Felcra," she said.

Previously, the Public Accounts Committee (PAC) directed KKDW and Felcra to report to the PAC every three months on the debt repayment status for the Semarak 20 project.

This was among five recommendations made to the government to monitor the debts borne by Felcra Berhad and its subsidiaries.

The Dewan Rakyat later approved an operational and development expenditure allocation of RM11,959,856,200 for KKDW under Budget 2025, with a majority of voices in support after debates involving 25 MPs.

-- BERNAMA