Waqf means an Islamic endowment made by a Muslim to a religious, educational, or charitable cause. The Universiti Kebangsaan Malaysia (UKM) in collaboration with the Selangor Waqf Corporation (PWS), an agency under the Selangor Islamic Religious Council (MAIS) has established the UKM Knowledge Fund (DWIUKM) program.
Cash waqf is a type of waqf categorized as movable waqf. Like other types of waqf, cash waqf aims to promote service to mankind by establishing waqf using money. There are three waqf schemes provided by UKM, namely:
- UKM Gifts and Donation Scheme
- UKM Cash Waqf Scheme
- UKM Waqf-Takaful Scheme
UKM Gifts and Donation Scheme
- The scheme enables the public to contribute a certain amount of money via (a) lump sum or (b) by installment; as part of giving donations and gifts.
- UKM is the recipient institution, and the contributing parties will be given tax exemption for the given contribution.
UKM Cash Waqf Scheme
- The scheme enables the public to contribute a certain amount of money via (a) lump sum or (b) by installment with the intention of Waqf (Islamic Endowment).
- UKM is the recipient institution, and the contributing parties will be given tax exemption for the given contribution.
UKM Waqf-Takaful Scheme
UKM cooperates with Licensed Takaful Institutions by providing a fund donation scheme via the practice of waqaf.
- The scheme allows you to gradually gather the fund (installment) in the preferred duration (at least 5 years).
- UKM is the waqf recipient institution, and the Licensed Takaful Institution functions as the scheme manager.
- Upon reaching the mature period, the dividend/benefit will be directly paid by the Takaful Institution to UKM as the waqf recipient.
- In the occurrence of accidents or calamities, the contributor is given the option to receive a portion of the Takaful benefit.
If you are interested to give endowment (waqf), please contact Yayasan Canselor either by facsimile at 03 8921 4667 or email to pghyc@ukm.edu.my.