Bank Islam to channel funds to flood victims


Cleaning up: Restaurant owner Sawiyah Jusof (right), 57, and daughter Siti Munirah Mohd Zulkafli, 25, cleaning the premises of their eatery after floods receded in Tumpat, Kelantan while a motorcyclist rides along a road damaged by floods in Kemaman. — Bernama

KUALA LUMPUR: Bank Islam Malaysia Bhd will channel funds amounting to RM400,000 from its Islamic crowdfunding platform, Sadaqa House, as a humanitarian and disaster relief in several flood-affected states.

Chief executive officer Mohd Muazzam Mohamed said besides offering moratorium to flood-hit customers, the bank is doubling its effort by allocating contributions from its Islamic social finance initiative, Sadaqa House, to ensure significant support and assistance are channelled to the affected victims.

“This effort indirectly reflects that Islamic banking institutions have always practised the concept of wealth sharing and the Islamic social finance instruments such as sadaqah (charity), zakat (tithe), and waqf (endowment) have the advantage of playing a pivotal role in supporting the socio-economic welfare of the communities, ” he said in a statement.

Mohd Muazzam said the bank would also channel RM100,000 from the total fund to Yayasan Al-Sultan Abdullah, which is carrying out initiatives to help those who are taking refuge at evacuation centres. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Bank Islam , funds , flood victims ,

   

Did you find this article insightful?

Yes
No

Next In Nation

Squabbling over PM post during pandemic is being insensitive to people's plight, says Abdul Hadi
Tok Mat rubbishes report of Umno supreme council backing him as PM candidate in next GE
Eurocham: No mention of lockdown after Feb 4 in meeting with Miti
Senior citizen lodges police report over social media post claiming he violated Covid-19 quarantine
Thaipusam: Chariot only allowed to travel to Batu Caves without procession, Annuar clarifies
Lion and dragon dance troupes bracing for hard times
Covid-19: Nine new clusters reported, eight linked to workplaces
Covid-19: Two more deaths, 255 new cases in Sarawak as of Sunday (Jan 24)
Cops foil two ketum-smuggling attempts, seize leaves worth RM33,390
Bentong Prison, staff quarters to be under EMCO from Jan 25-Feb 8

Stories You'll Enjoy