SEMINAR ON ZAKAT, WAQF AND SADAQAH 2017

(In collaboration with Bank Islam Malaysia Berhad (BIMB), International Institute of Advanced Islamic Studies (IAIS) Malaysia and Kolej Pengajian Islam Johor (MARSAH))

International Research Centre of Islamic Economics and Finance (IRCIEF) in collaboration with Bank Islam Malaysia Berhad (BIMB), International Institute of Advanced Islamic Studies (IAIS) Malaysia and Kolej Pengajian Islam Johor (MARSAH) had organized the Seminar on Zakat, Waqf and Sadaqah 2017 on 19th April 2017 at The Royale Chulan Hotel, Kuala Lumpur. The event was attended by more than 100 participants from various institutions of higher learning, representatives from Islamic financial institutions, government officials, banking sector, and lecturers.

The program began with the recitation of du’a led by Ustaz Nushi bin Mahfodz followed by Quran recitation by Ustaz Wan Fakhrul Razi bin Wan Mohamad. The seminar was continued with a presentation of the first speaker, Dr. Razali bin Othman, Director at Centre for Management of Wakaf, Zakat and Endowment (WAZAN), Universiti Putra Malaysia (UPM) with his topic “Waqf: Big Potential for Social Benefit” followed by the second speaker, Ustaz Mohd Nazri Chik, Head of Shariah Bank Islam Malaysia Berhad (BIMB). After morning tea break, the seminar was continued with the third speaker, Prof. Dr. Muhammad Syukri Salleh, Director of Centre for Islamic Development Management Studies (ISDEV), Universiti Sains Malaysia (USM), with his topic “The Effectiveness of Zakat Distribution”.

It was then followed by a session from the Steering Committee of Sadaqah House and the patron of Sadaqah House, Dato’ Dr Abdul Halim bin Ismail. They presented the Green Report: “Viability of Sadaqah House within Islamic Banking Environment”. In determining the viability of the Sadaqah House to be implemented within the Islamic banking framework, for important areas, were duly investigated, namely: Legal, Shariah, Governance and Taxation. Consequently, the research found that the implementation of Sadaqah House is feasible in the Islamic banking environment as a banking product or as an in cooperation of a subsidiary of foundation. The Green report suggest for the adoption of the available proposed structure by interested parties, i.e Islamic Financial Institition (IFIs) should they choose to kick – start its establishment.

The seminar was continued with the launching ceremony of the Green Report. The launching was performed by Y.B. Senator Dato’ Dr Asyraf Wajdi Bin Dato’ Dusuki, Deputy Minister in Prime Minister Department (religious affairs). The session started with a speech from the Rector of KUIS, Prof. Dato’Dr Ab. Halim bin Tamuri followed by a keynote address speech by YB Senator Dato’ Dr Asyraf Wajdi Dusuki.  The Green Report was  launched  soon  after  Y.B.  Senator completed his speech.  The ceremony ended with a montage presentation of Sadaqah House.

Among the attendees during the launching ceremony were the KUIS management team: Dr. Mokmin Basri, Deputy Rector (Academic and Research); Dr Mohamad Syukri Abdul Rahman, Deputy Rector (Student Development & Alumni); Dr Zulkifli Haji Abdul Hamid, Deputy Rector Of Corporate Management (Development & Internationalisation); Pn Nor Hafizin Abdul Wahab, Treasurer; Pn Rohaiza Mat Noh, Legal Advisor; En Zulhizzam Hamzah, Registrar; Deans of the faculty, and invited VIPs.

The afternoon session was continued with a presentation from Mr Nik Hasyudeen, the founder of Inovastra Capital Sdn. Bhd with his topic “Governance Structure for Social Benefit Institution” followed by a presentation from Mr. Yaacob B. Othman, Director at Tax Policy Department Approval & Enforcement Division at Lembaga Hasil Dalam Negeri (LHDNM) Malaysia with a topic on “Taxation Aspects for Social Benefit Initiatives”. The seminar ended with the last speaker’s presentation, Prof. Dr Engku Rabiah Adawiah Engku Ali, Associate Professor at Ahmad Ibrahim Kuliyyah of Laws, International  Islamic  University Malaysia  (IIUM) with her  topic  on  “Social  Benefit  Initiatives  for Financial Inclusion”, followed by a closing speech from Ustaz Mohd Nazri bin Chik.

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