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KLIFF 2017 Focuses On Wakaf Fund Development
Last update: 03/10/2017

KUALA LUMPUR, Oct 3 (Bernama) -- The development of†Wakaf†Fund has received a special attention at the Kuala Lumpur Islamic Finance Forum (KLIFF) 2017 which was attended by more than 900 local and foreign Islamic finance professionals and experts.

The Association of Islamic Banking Institutions Malaysia (AIBIM) said the Wakaf†Fund, which was pioneered†by six Islamic financial institutions in Malaysia, provided a†platform for the collection of wakaf†(Islamic endowments) from contributors through existing channels.† † †

The†collaboration is†also expected to involve various state Islamic religious†councils who†are†entrusted with the development of wakaf projects in their respective states, AIBIM†said in a statement here today.

Meanwhile, Amanie Advisors Sdn Bhd Chairman Datuk†Dr†Mohd†Daud†Bakar†described†the†collaboration between Islamic financial institutions and the state Islamic religious councils would be a positive step towards†enhancing the socioeconomic status of Muslims in Malaysia.

He was delivering his remarks†during†the ?Islamic Finance Smart Talk' at the forum,

Amanie Advisors is a leading Shariah advisory firm specialising in Islamic finance solutions.†

AIBIM†said the†KLIFF†also discussed the direction and development of Islamic finance in Malaysia.

The Wakaf†Fund is a strategic collaboration between†Affin Islamic Bank Bhd, Bank Islam Malaysia Bhd, Bank†Kerjasama Rakyat Malaysia Bhd, Bank Muamalat Malaysia Bhd, Maybank Islamic†Bhd, and†RHB Islamic Bank Bhd.

The collaboration provides†the Islamic banking industry with a platform to promote positive values to the community and the economy, AIBIM†said.



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Source: Bank Negara Malaysia

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