MALAYSIA: The Federal Territory Islamic Religious Council of Malaysia, or Majlis Agama Islam Wilayah Persekutuan (MAIWP), has named Bank Rakyat as Malaysia’s first trustee for public cash Waqf funds, after launching Jariah Al-Barakah – a humanitarian initiative. The partnership enables the systematic collection and management of Waqf. A joint committee led by Prof Dr Azman Mohd Noor, a senior lecturer at the Institute of Islamic Banking and Finance at International Islamic University Malaysia, will oversee the platform.
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