KUALA LUMPUR – Concerned about the flood situation on top of Covid-19, Bank Islam Malaysia Bhd will channel funds amounting to RM400,000 from its Islamic crowdfunding platform, Sadaqa House, as humanitarian and disaster relief in several affected states.
Chief executive officer Mohd Muazzam Mohamed said besides offering a moratorium to flood-hit customers, the bank is doubling its effort by allocating contributions from its Islamic social finance initiative, Sadaqa House, to ensure significant support and assistance are channelled to the affected victims.
“This effort also indirectly reflects that Islamic banking institutions have always practised the concept of wealth sharing and the Islamic social finance instruments such as sadaqah (charity), zakat (tithe), and waqf (endowment) have the advantage of playing a pivotal role in supporting the socio-economic welfare of the communities,” he said in a statement.
Mohd Muazzam said the bank will also channel RM100,000 from the total fund to Yayasan Al-Sultan Abdullah, which is actively carrying out initiatives to help those who are currently taking refuge at evacuation centres.
Bank Islam’s humanitarian and disaster relief efforts include direct assistance such as the provision of food and drinks, medicines, essential equipment for flood evacuees at the evacuation centres, and the purchase of cleaning tools for post-flood conditions.
Bank Islam has also established strategic cooperation with the security forces, government agencies and non-governmental organisations such as the Malaysian Armed Forces, Fire and Rescue Department, Department of Social Welfare, National Disaster Management Agency, Yayasan Food Bank Malaysia, Imam Response and Relief Team, and Mercy Malaysia for the distribution of the assistance.
People who wish to contribute may channel to Sadaqa House Bank Islam account number 140 140 101 88888 or visit the Sadaqa House website at www.sadaqahouse.com.my. – Bernama, January 10, 2021
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