YIA Targets RM7.2 Mln In Annual Waqf Collections

KOTA BHARU, The Yayasan Infaq ANGKASA (YIA) aims to collect RM7.2 million annually in waqf donations to fund various initiatives for the Muslims in the country. Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) president Datuk Seri Dr Abdul Fattah Abdullah said the target was based on their 7.2 million members, with each contributing just RM1. 'ANGKASA itself will contribute RM1.5 million annually to the foundation, and we hope more individuals and corporate entities will follow suit in making waqf infaq contributions. As of August this year, we have already collected RM2 million from various donors. 'The funds collected will be used for activities, including establishing waqf buildings in each state to help strengthen the local economy. So far, YIA has purchased buildings in Selangor, Pahang, Negeri Sembilan, Sabah and Penang.' He told reporters this after officiating the Global Conference on Waqf, Technology and Business Economics, organised in collaboration with Universiti Malaysia Kelantan (UMK) here last night. Abdul Fattah, who is also YIA founder, said the international conference, held in partnership with UMK for the first time, saw the participation of 76 hybrid attendees from countries such as the Philippines, Thailand and Cambodia, including academics, industry players and government agencies. 'This conference serves as a platform to discuss, share knowledge and collaborate on exploring the potential of waqf through technological adoption. It also aims to introduce the latest research and best practices in business to make waqf a more effective financial instrument. 'This initiative aligns with the Malaysia MADANI agenda, which seeks to empower waqf practices at the national level with the support and participation of corporate entities,' he said. Since its establishment in 2010, YIA has raised RM30 million, of which RM17 million has been distributed for various economic development, education, health and social projects nationwide. Source: BERNAMA News Agency