KUALA LUMPUR: Minister of Environment and Water (KASA), Dato ‘Sri Tuan Ibrahim Tuan Man said, a total of RM930,978.98 has been spent on Wakaf Tunai Khas Perkhidmatan Air (Wakaf Air) to fund 23 projects nationwide until 15 May.
According to him, KASA is targeting to spend RM2 million this year for the welfare of the people’s life and the preservation of the Water Waqf fund.
“Thank you very much to the waqf. God willing, the reward flows like water. Continue to do waqf, ”he said in a post on his Facebook page, today.
Meanwhile, the Wakaf Air website informed that the total collection until May 15 was RM3,955, 222.27.
Wakaf Air is a special wakaf product created under Wakaf Tunai Malaysia Yayasan Waqaf Malaysia (YWM), a collaboration between YWM and KASA.
The implementation of the collaboration was approved by the Board of Trustees of YWM on 20 October 2020.
Wakaf Air aims to raise wakaf funds to finance small-scale water service projects worth less than RM50,000.00, including water source pumping systems from wells, purchase of spare parts, one-off maintenance, assistance funds preventive operations as well as rehabilitation of rural water supply systems; and the provision of alternative water sources that involve low maintenance costs and are safe to use.
The community can participate in the implementation of Wakaf Air, by waqf in cash through the Malaysian Cash Wakaf System.
The community can also contribute in cash to the Yayasan Waqaf Malaysia account at RHB Islamic Bank through account number 2124-57600-01304.
The approval of tax deduction to waqfs who waqf to YWM under Subsection 44 (11C) of the Income Tax Act 1967 has expired on 31 December 2021 and is in continuation action.
Therefore, all endowments starting January 1, 2022 are not eligible for tax deduction until notified by YWM from time to time. – HARAKAHDAILY 23/5/2022