Wakaf Definition

In terms of language: stop, restrain, hinder.

In terms of Terminology: Any property to which the endower retains the right to such property from any dealings of sale, inheritance, hibah and will while maintaining its physical resources, for welfare with the intention of bringing the wakaf closer to Allah S.W.T.

“When a person dies, his deeds come to an end except for three things: a sadaqah jariyah (ceaseless charity), or a knowledge which is beneficial, or a righteous child who prays for him.”

- Riwayat Muslim

Benefits of Wakaf ASNB

Income Tax Relief

Wakaf donors are eligible to receive an income tax deduction for the Wakaf amount in the year, subject to 10% of the Annual Aggregate Income. The effective period of approval from the Minister of Finance starts from 1 January 2021 to 31 December 2025.

Wakaf fund that lasts forever

A combination of investments and wakaf concepts where the wakaf fund will continuously generate investment returns which will be channeled to wakaf projects.

Recognition as a Mutawalli

AWSB is a wakaf management institution recognised as a Mutawalli by MAIWP which functions as a corporate wakaf company. AWSB manages and administers the wakaf fund end-to-end, starting from collecting, managing and governing the wakaf fund, identifying and distributing to wakaf projects.

Transparent governance and informative

Wakaf donors will receive annual reports containing information on the accumulated wakaf fund, investment returns from the wakaf fund and distribution of wakaf to charitable projects. Wakaf donors will also receive annual statements containing information on their own wakaf fund and its investment returns. All wakaf contribution projects are transparent and undergo a due diligence process.

Updates on wakaf will continue to be provided to their next of kin/appointed notice recipient

Wakaf donors can appoint their next of kin/notice recipient who will receive regular updates on their wakaf contributions upon their death.

Easy application

ASNB provides online channels on the myASNB portal & mobile app as well as at all branches nationwide for the registration of Wakaf ASNB.

Wakaf Project Sectors

Health

Projects related to the health sectors such as purchases of hospital equipments for the treatments of the needy, as well as assistance for chronic patients with cancer, kidney diseases, heart diseases or other illnesses.

Education

The education sector such as for basic education needs like books, learning equipment for less fortunate students, educational assistance to religious education centres and other groups in need.Higher learning institutions that have wakaf centres that provide financial aids to students to lessen the burden of education costs and basic necessities.

Community Empowerment

The community empowerment sector such as building houses or providing other necessities for the needy like single mothers, the poor and homeless.

Humanitarian Mission

Humanitarian missions especially for the needy, victims of flood or other natural disasters.

Concept of Wakaf ASNB

Wakaf ASNB combines the concepts of investment and wakaf to ensure that your wakaf contribution remains eternal.

Unit holder’s wakaf fund will be retained as the principal investment and only the returns from this investment will be channelled to wakaf projects.

The Wakaf ASNB in the form of a unit trust is a permanent wakaf, which is wakaf Muabbad.

The wakaf asset cannot be recalled, transferred, or inherited so it can be beneficial forever.

The Wakaf projects will receive contributions from the investment returns of the endowed unit trusts.

Endowed unit trusts are maintained to generate investment returns in perpetuity for subsequent years.

How your wakaf is managed?

1. Online application through myASNB portal and mobile application

Steps to apply for Wakaf ASNB via myASNB app

Step 1

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2. Application at ASNB branches nationwide

Steps to apply Wakaf ASNB at over-the-counter

3. Application at selected ASNB's agent branches nationwide

Steps to apply Wakaf ASNB at over-the-counter ASNB's Agent Branch

Terms & Conditions

Eligibility	Unit holders aged 18 years and above, of sound mind and not declared as bankrupt.
Unit's eligibility	Fixed Price Funds only. Fully/absolutely owned units only. Secured units (financing) and units that need to be maintained (blocked units) for Hibah Amanah/Declaration of Trust are not allowed
Minimum wakaf amount	RM1,000.00
Maximum wakaf amount	No limit. Unit holders need to maintain unit balance at a minimum investment amount of the respective fund (as per stated in the latest prospectus).
Individual maximum limit ASB & ASB 2	The wakaf units from Amanah Saham Bumiputera (ASB) and Amanah Saham Bumiputera 2 (ASB 2) will also be included in the total individual maximum limit for both funds.
Wakaf Muabbad concept	Irrevocable and the amount of wakaf cannot be re-claimed, returned, cancelled or amended. Once an application is successful, the wakaf units will be transferred immediately to MAIWP’s account for the unit trust funds registered with ASNB. The wakaf donor has no right to re-claim the wakaf units as the units are no longer under their ownership.
Application fee	Fees are only charged on investment returns (dividends) from wakaf units only. No fees are charged on the wakaf units.

FAQ

Wakaf ASNB is a service provided for ASNB unit holders to wakaf (endow) a portion of their ASNB trust unit investment where the wakaf unit will remain as principal while the income of the wakaf unit trust will be distributed to wakaf projects in the health, education, community empowerment and humanitarian mission sectors identified throughout Malaysia, which is managed by ASNB Wakalah Sdn. Bhd.

ASNB Wakalah Sdn Bhd (AWSB) is a wholly owned subsidiary of ASNB which has been appointed as a Mutawalli by MAIWP to collect, manage and administer the Wakaf ASNB fund.

Wakaf ASNB is open to all ASNB unit holders aged 18 and above.

Wakaf ASNB can only be performed by the unit holder himself through his own ASNB account and can intend wakaf for a third party.

Unit holders can perform Wakaf ASNB from their ASNB fixed price funds through myASNB portal and apps, ASNB branches or selected ASNB’s agent branches .

Yes, unit holder can perform wakaf at selected ASNB’s agents branches, which is Bank Muamalat. Any additional channels will be announced from time to time.

ASNB Wakalah Sdn Bhd

ASNB Wakalah Sdn. Bhd. (AWSB) is a wholly-owned subsidiary of ASNB, which is also a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB). AWSB was established on 25 January 2021, as a Mutawalli appointed by the Majlis Agama Islam Wilayah Persekutuan (MAIWP) to manage and administer the ASNB unit trust wakaf fund.
Responsible for collecting ASNB units to be endowed through Wakaf ASNB service.
Managing the distribution of wakaf benefit funds to eligible parties through evaluation and ‘due diligence’ processes to ensure that the wakaf funds are managed transparently and effectively through strategic partnership with MAIWP.
Prepare annual reports and statements to ensure transparency in reporting of Wakaf ASNB collections and distribution activities to wakaf donors and the community in general.

Joint Wakaf Distribution Committee ASNB-MAIWP (JWDC)

The Joint Wakaf Distribution Committee ASNB-MAIWP is a committee formed and represented by AWSB, MAIWP and independent members that are responsible for:

Advise and monitor the governance of Wakaf ASNB service managed by AWSB.
Evaluate and approve the selection of identified wakaf projects and the distribution of wakaf benefit funds.
Advise on legal issues related to Shariah compliance, policies, programs and governance of wakaf funds.
Act and carry out their responsibilities in accordance with the terms of reference of JWDC.

AWSB Board of Directors

Datuk Prof. Dr. Mohamad Akram Laldin

Chairman

Chairman, ASNB Wakalah Sdn. Bhd.

<p data-pm-slice="1 1 []"><span style="color:#193CEB;">Datuk Prof. Dr. Mohamad Akram Laldin</span></p>

Encik Fadzihan Abbas Mohamed Ramlee

Member

Chief Executive Officer & Executive Director, ASNB

<p data-pm-slice="1 1 []"><span style="color:#193CEB;">Encik Fadzihan Abbas Mohamed Ramlee</span></p>

Dr. Ahmad Basri Ibrahim

Member

Head of Shariah Management, PNB

<p data-pm-slice="1 1 []"><span style="color:#193CEB;">Dr. Ahmad Basri Ibrahim</span></p>

Member of Joint Wakaf Distribution Committee (JWDC)

Chairman	Prof. Dr. Mohamad Akram Laldin Chairman, ASNB Wakalah Sdn. Bhd.
Member (AWSB)	Encik Fadzihan Abbas Mohamed Ramle Chief Executive Officer & Executive Director, ASNB
Member (AWSB)	Dr. Ahmad Basri Ibrahim Director, ASNB Wakalah Sdn. Bhd.
Member (MAIWP)	Encik Mohd Fauzi Abidin Deputy Chief Executive Officer (Management), MAIWP
Member (MAIWP)	Dr. Haji Razali bin Othman MAIWP Wakaf Committee
Member (Independent)	Dato’ Selamat bin Paigo Head of Director, Jabatan Wakaf, Zakat dan Haji (JAWHAR)

Contact

ASNB Customer Service Center

Email : asnbcare@asnb.com.my

Telephone : 03-7730 8899

Corporate Enquiry

ASNB Wakalah Sdn. Bhd.,
Level 91, Menara Merdeka 118,
Presint Merdeka 118, 50118 Kuala Lumpur,
Wilayah Persekutuan.

Email : asnbwakalah@pnb.com.my

Annual Report 2024

Annual Report 2024.pdf

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Annual Report 2023

Wakaf ASNB Annual Report 2023.pdf

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Annual Report 2022

Wakaf ASNB Annual Report 2022.pdf

Annnual Report 2022.png

Wakaf Distribution

Introduction and concept of Wakaf ASNB and distribution of ‘Dana Manfaat Wakaf’ for the year 2022. Starting 25 October 2021, Wakaf ASNB has successfully collected 30 million wakaf investment capital and subsequently provided a return of income for the distribution of ‘Dana Manfaat Wakaf’ RM 73,365 for the year 2022.

Distribution of ‘Dana Manfaat Wakaf’ for the first quarter of 2022 which was successfully distributed to 33 various entities almost all over the country while 10 various entities for the distribution of ‘Dana Manfaat Wakaf’ for the second quarter of 2022.

Wakaf Definition

“When a person dies, his deeds come to an end except for three things: a sadaqah jariyah (ceaseless charity), or a knowledge which is beneficial, or a righteous child who prays for him.”

Benefits of Wakaf ASNB