JOHOR BAHRU, 5 December 2016 – Universiti Teknologi Malaysia (UTM) and the Johor Islamic Religious Council (MAIJ) have signed a Memorandum of Agreement (MoA) for the implementation of the Education Waqf Fund (DWP) in institutions of higher learning.
The signing of the memorandum was held at the Senate Hall where UTM was represented by the Vice-Chancellor, Prof. Datuk Ir. Dr. Wahid Omar, and Chief Executive Officer MAIJ, Tuan Haji Md Rofiki Dato Hj. Shamsudin.
Speaking at a press conference after the signing of the memorandum, Prof. Wahid said that the UTM Endowment Education Fund is a fund-raising program based on the concept of waqf through cash contributions where the donors donated to the fund which acts as a trustee with the intention of donating fi sabeelillah, or for the sake of Allah, and also for the purpose of education advancement.
“Although this is waqf concept of funds which means the existence of funder (Al-Wakif) and endowments receivers (Al-mawquf), it is not limited to receiving donations from organizations and individuals who are Muslims only.
“Individuals or organizations owned by non-Muslims are also more than welcome to contribute to this fund. It coincides with the goal of raising program aimed at mobilizing the whole society’s contribution to the development and prosperity of the university and its benefits will be enjoyed by all regardless of religion, ” he said.
The UTM Education Endowment Fund will be trustee holder to manage any funds received in cash from funders. The funds raised will be invested in order to generate profits.
The criteria set for an education endowment fund beneficiaries are the UTM students should get an offer studies for Bachelor, Master and Doctor of Philosophy (PhD) in full-time. Recipients also must study at UTM.
Bids and announcements will be made by the university or colleges through the medium of mass media such as advertisements, television, radio, newspapers and so on.
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