Water Endowment Fund receives over RM7 million in donations

Water Endowment Fund receives over RM7 million in donations

PUTRAJAYA,. The Malaysian Water Endowment Fund (Wakaf Air) officially launched today as an alternative source of financing for water service projects through endowment instrument has received almost 30 applications to implement water projects nationwide and over RM7 million in donations.

The donations for the fund, which is an initiative of the Ministry of Environment and Water (KASA) in collaboration with Yayasan Waqaf Malaysia (YWM), came from the public and other parties, including the National Water Services Commission (SPAN).

Minister of Environment and Water Datuk Seri Tuan Ibrahim Tuan Man said Wakaf Air would focus on financing water service projects which include water sources, water supply and small-scale sewerage projects costing not more than RM50,000.

“For a start, Wakaf Air will focus in projects to provide clean water supply in rural areas, such as in building wells, purchasing spare parts and water tanks, as well as providing pipe connections from water sources,” he told reporters after launching the fund at his ministry, here today.

At the event, Tuan Ibrahim and Minister in the Prime Minister’s Department (Religious Affairs) Datuk Dr Zulkifli Mohamad Al-Bakri, who is also YWM chairman, witnessed the signing of the memorandum of understanding (MoU) between KASA and YWM.

The MoU was inked by KASA secretary-general Datuk Seri Ir Dr Zaini Ujang and YWM chief executive officer Amir Shahruddin.

Tuan Ibrahim said the applications received were currently being scrutinised and the projects were expected to start by early next year.

To facilitate endowment affairs, he said the community can contribute online with only RM10 and all donations will be managed through a special Wakaf Air account administered by YWM.

Tuan Ibrahim said as a long-term sustainable measure, his ministry had also agreed to allow part of the fund to be invested in an authorised portfolio.

“Profits from the investment will be distributed to finance Wakaf Air projects that will benefit the people regardless of race and religion.

“Wakaf Air is an alternative financing instrument that complements the government’s efforts in providing better water services to the people,” he said.


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