SEPANG Municipal Council (MPSepang) launched an endowment fund with a deposit of RM10mil to kick-start its drive towards sustainable community development.
MPSepang president Dr Ani Ahmad said modern cities could no longer depend solely on traditional sources of funding to meet the growing needs of the community.
Instead, innovative and sustainable financing models were required to ensure a lasting social impact, she said.
“Tabung Endowmen Sepang will be an alternative financial instrument designed not only to raise funds, but also to foster a culture of philanthropy.
“The concept of an endowment fund may be new to some, but it has long been adopted by leading institutions around the world to ensure that charitable contributions continue generating benefits over time.
“Rather than being spent as one-off donations, contributions are professionally managed so that investment returns can finance programmes that improve the well-being of the community on a continuous basis,” Ani said.
The fund was launched at MPSepang’s headquarters in Cyberjaya, Selangor.
Present was Assoc Prof Dr Nur Ainna Ramli, a lecturer at Universiti Sains Islam Malaysia’s Faculty of Economics and Muamalat who provided her expertise in establishing the financial vehicle.
To ensure public confidence, Ani said the fund would operate under strict principles of integrity, transparency and accountability.
“All contributions will be managed in accordance with established financial regulations and governance mechanisms,” she said.
“We plan to strengthen the fund’s governance by drawing expertise from professionals in academia, finance, law and community development to ensure sound decision-making and to maximise social impact.”
Ani said the funds would be used to support programmes such as tree-planting initiatives, community events and providing breakfast for schoolchildren.
She also thanked one of the fund’s earliest corporate contributors, Mitraland Wawasan Development Sdn Bhd, for its contribution of about RM44,300.
