PUTRAJAYA – The Malaysian Water Endowment Fund (Wakaf Air), which was officially launched today as an alternative source of financing for water service projects, has received almost 30 applications to implement projects nationwide and more than RM7 million in donations.
The donations to the fund, which is an initiative of the Environment and Water Ministry in collaboration with Yayasan Waqaf Malaysia (YWM), come from the public and other parties including the National Water Services Commission.
Minister Datuk Seri Tuan Ibrahim Tuan Man said Wakaf Air will focus on financing projects that include water sources and supply, and small-scale sewerage projects costing not more than RM50,000.
“For a start, Wakaf Air will focus on projects to provide clean water in rural areas, such as building wells, purchasing spare parts and water tanks, as well as providing pipe connections for water sources,” he told reporters after launching the fund at his ministry here.
At the event, Tuan Ibrahim and Minister in the Prime Minister’s Department (Religious Affairs) Datuk Zulkifli Mohamad Al-Bakri, who is also YWM chairman, witnessed the signing of a memorandum of understanding on the fund between the ministry and YWM.
The MoU was inked by ministry Secretary-General Datuk Seri Zaini Ujang and YWM chief executive Amir Shahruddin.
Tuan Ibrahim said the applications received are being studied, and the projects are expected to start by early next year.
To facilitate endowment affairs, he said, the public can contribute from as low as RM10, with all donations to be managed via a special Wakaf Air account administered by YWM.
As a long-term sustainable measure, the ministry has also agreed to allow part of the funds to be invested in an authorised portfolio, he said.
“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 to provide better water services to the people.” – Bernama, December 17, 2020
