Kuala Lumpur, 5th April 2021: BIMB Investment Management Berhad (BIMB Investment), a wholly-owned subsidiary of Bank Islam Malaysia Berhad, has announced its target asset under management (AUM) for its recently launched Makmur myWakaf Fund to reach RM50 million by the end of 2021. Makmur myWakaf Fund is the first wakaf unit trust fund under the Securities Commission Malaysia (SC) Waqf-Featured Fund Framework introduced on 12 November 2020 and a Qualified Sustainable and Responsible Investment (SRI) Fund under the SC Guidelines on Sustainable and Responsible Investment Funds.
The announcement was made during the official launch of Makmur myWakaf Fund at the Grand Hyatt Kuala Lumpur officiated by YB Senator Datuk Seri Dr. Haji Zulkifli Mohamad Al-Bakri, Minister in the Prime Minister's Department (Religious Affairs). Also present at the event were BIMB Investment Chairman, Mohamed Ridza Mohamed Abdulla; Chairman of Bank Islam, Tan Sri Dr. Ismail Hj. Bakar; Bank Islam Chief Executive Officer, Mohd Muazzam Mohamed and BIMB Investment Chief Executive Officer, Najmuddin Mohd Lutfi.
BIMB Investment Chairman, Mohamed Ridza Mohamed Abdulla said, “In terms of Makmur myWakaf Fund’s investment strategy, the exposure is allocated to the Sukuk market, Shariah-compliant equities and low risk assets such as Islamic money market instruments to maintain potential income opportunities. The fund enables investors to participate in the revenue prospects of the Malaysian, Asia Pacific and global markets with tactical asset allocation. This innovative fund is suitable for corporate investors as well as individuals who want to channel part of their investment returns for wakaf purposes to help the underprivileged community, especially in the areas of healthcare, education and community empowerment.”
He added, “Wakaf has played a very significant role in the economic development and well being of a country. With this in mind, the Makmur myWakaf Fund was created as an effort to strengthen and further expand the efforts related to wakaf in line with the changes of the times and current technology to ensure that the benefits can be channeled to those in need. Of course, the attraction of this fund is the facility for investors to reap the returns of the investment and at the same time, share some of the investment returns generated by endowing it for the benefit of society on an ongoing basis.”
YB Senator Datuk Dr. Haji Zulkifli Mohamad Al-Bakri, Minister in the Prime Minister's Department (Religious Affairs) said, wakaf is an important instrument in Islam that serves as a catalyst for the development and economy of the ummah.
“I am very excited with the launch of Makmur myWakaf Fund because it shows BIMB Investment's commitment to wakaf efforts for the benefit of recipients, while continuing to stimulate the development of wakaf instruments in the country. BIMB Investment has also taken a very special, unique, and innovative step through the offering of this fund. It provides an easy and convenient platform for Malaysians to contribute towards the greater good. The result can be realized in this world and in the hereafter."
Makmur myWakaf Fund is a multi currency, Shariah-compliant global mixed asset fund and supports the Malaysian International Islamic Financial Center (MIFC) initiative. The fund aims to generate income through a diversified portfolio of Shariah-compliant investments in various asset classes locally and globally. The fund uses a sustainability approach that incorporates the principles of the United Nations Global Compact (UNGC) and Environmental, Social and Governance (ESG).
Investors can invest in Makmur myWakaf Fund through 3 asset classes namely RM, USD and AUD with a minimum initial investment of RM200, USD200 and AUD200 respectively. The Makmur myWakaf Fund has the potential to distribute monthly income and channel 50% of income distribution as Wakaf Asset for wakaf purposes through the myWakaf AIBIM initiative. Investors can also invest in the Makmur myWakaf Fund through BIMB Investment’s robo-intelligence app, BEST Invest.
BIMB Investment is the only bank-backed Islamic Asset Manager in Southeast Asia which is a signatory of the United Nations-supported Principles for Responsible Investment (UNPRI). BIMB Investment was named ESG Asset Manager of the Year for two consecutive years in 2019 and 2020 by The Asset Triple A Islamic Finance Awards 2020.
For more information about the fund, please contact 1-800-88-1196 or visit www.bimbinvestment.com.my
