In Islamic jurisprudence, a waqf is the dedication of a specified asset (mawquf) by a settlor (waqif) into the administration of a custodian (mutawalli) through a legal instrument such that the income or usufruct of that asset benefits a stated beneficiary (mawquf alaih) or is used for a stated purpose.

A waqf is comparable to an endowment, trust or foundation except that it must comply with the Shariah rules and principles. Some of the differences are:

  1. A waqf is usually perpetual but an endowment, trust or foundation may be finite or may have a provision for winding-up or termination.
  2. There are limited circumstances for reversion of a waqf asset but the settlor or founder of an endowment, trust or foundation can stipulate conditions for reversion.
  3. The activities of a waqf must comply with Shariah, which may not apply to an endowment, trust or foundation.

AIBIM or The Association of Islamic Banking Institutions Malaysia (AIBIM) was established in 1996. All the six (6) participating banks together with 21 other banks are members of AIBIM. AIBIM plays a vital role in coordinating the whole arrangement and also acts as the Secretariat to the myWakaf project.

  1. To synergise SIRC and Islamic banks capabilities to create a dynamic and progressive Waqf Project.
  2. To enhance transparency, accountability and effective regulatory of Waqf Fund financial management.
  3. To enhance transparency, accountability and effective regulatory of Waqf Fund financial management.

All Waqf affairs falls under the authority of the States Islamic Religious Council (SIRCs) and the SIRC shall be the sole trustee of all waqf. List II (State List) of the Ninth Schedule of the Federal Constitution provides the authority as follows:-

“Wakafs and the definition and regulation of charitable and religious trusts, the appointment of trustees and the incorporation of persons in respect of Islamic religious and charitable endowments, institutions, trusts, charities and charitable institutions operating wholly within the State; ……”

There are 14 SIRCs in Malaysia in which 13 from each states and one representing the Federal Territories of Kuala Lumpur, Putrajaya and Labuan.

This myWakaf initiative is intended to assist the SIRCs in promoting and developing the waqf project. The ultimate ownership of all waqf funds and projects lie with the respective SIRCs involved.

Yes, contributor will receive a contribution receipt issued by the respective SIRCs.

Tax exemption on the contribution would depend on the relevant SIRCs. Contributor would need to refer to the respective project and SIRCs for further details.

Yes. You can contribute by using JomPAY as a payment method. JomPAY Biller Code allows you to make a contribution from more than 40 participating banks.

Alternatively, if a project discloses the bank account number, you can transfer to the bank account directly by using Interbank Fund Transfer (IBT).

Yes. There is no restriction for non-Muslims to contribute to myWakaf. The donor will be able to be part of the effort to assist the society apart from getting material benefit such as tax exemption (if any).

SIRCs would be the sole trustees and owners of the waqf asset in Malaysia. However, benefit from the waqf asset can be enjoyed by all people (Muslims and non-Muslims), where relevant.

A Corporate entity would be able to contribute through JomPAY. If the contribution amount is significant and there is a request for media coverage, you may contact the myWakaf Secretariat to assist where necessary.

a. Salary deduction from your employer can be done subject to agreement by your employer. You may engage with your employer to transfer your contribution to respective fund account.

b. You may also make regular contributions via Standing Instruction (“SI”) from your bank account to the specific fund you wish to contribute.

Minimum amount is RM10. Maximum amount would depend on daily limit set by various methods of payment such as JomPAY, Internet Biller and ATM Transfer that available on each bank.

Yes. There is no restriction for a person in one state to contribute to other states.

myWakaf will update the fund performance in the portal and Facebook on a regular basis. You may refer to the respective project sections to get the latest update on the project.

Waqf is under the jurisdiction of the SIRC. Therefore, AIBIM only collaborates with the SIRC that already executed the Strategic Collaboration Agreement with AIBIM.. We will be adding new projects from other states from time to time upon the execution of the agreement.