In line with our Sustainability agenda, Maybank to establish a sustainable ecosystem for wakaf land development in Penang.
Maybank through its subsidiary, BinaFikir Sdn Bhd (“BFSB”) has inked a Memorandum of Understanding (“MoU”) with Wakaf Pulau Pinang (“WPP”), a subsidiary of Penang State Islamic Religious Council (Majlis Agama Islam Negeri Pulau Pinang, “MAINPP”), to introduce a comprehensive model to develop the State’s wakaf land owned by MAINPP.
The signing of the MoU held on 3 March 2022 was witnessed by Tuan Yang Terutama Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak, Governor of Penang together with our Chairman, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa and Dr Roslan Ahmad, Deputy Chairman of MAINPP. Accompanying the Governor and Chairman were Dato’ Muzaffar bin Hisham, Group Chief Executive Officer, Global Banking and Dato’Hj Samsudin bin Bakar, Secretary of MAINPP. Signatories were Ms Sally Lye Saw Im, Executive Director, BinaFikir Sdn Bhd and Tuan Haji Rosidi Hussain, Chief Executive Officer, Wakaf Pulau Pinang.
Through this first collaboration of its kind, BFSB was appointed as the Principal Advisor, Lead Arranger and Financier for the development under the Rent-To-Own home ownership programme offered to eligible first home buyers for the state’s affordable housing on the wakaf land.
From left: Tuan Haji Rosidi Hussain, Chief Executive Officer, Wakaf Pulau Pinang; Dato’ Haji Samsudin Bakar, Secretary of Penang State Islamic Religious Council; Dr Roslan Ahmad, Deputy Chairman, Penang State Islamic Religious Council; Tuan Yang Terutama Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak, Governor of Penang; Tan Sri Dato’ Sri Zamzamzairani Mohd Isa, Maybank Chairman; Dato’ Muzaffar Hisham, Group Chief Executive Officer, Global Banking; Ms Sally Lye Saw Im, Executive Director, BinaFikir Sdn Bhd at the MoU signing.
In line with its sustainability agenda, Maybank through BFSB, the operator for HouzKEY and the first and only Rent-To-Own offered by Malaysian Islamic banks, will establish a sustainable ecosystem primarily driven by private sectors, through collaboration with developers and financial institutions to develop wakaf land for greater social impact. This is also to encourage the development of affordable housing to meet its ever increasing demand in the country.
“We believe that our success in easing many Malaysians in owning their first home via our innovative solution, HouzKEY that is aligned with Maqasid Shariah, will be able to help Wakaf Pulau Pinang to achieve its noble objectives. We hope Maybank’s involvement and our commitment in driving our Sustainability agenda will provide more confidence to real estate players to participate in this programme. We envision to roll this out in phases nationwide to benefit more eligible Malaysians to own a home.” said Ms Sally Lye Saw Im, Executive Director, BinaFikir Sdn Bhd.
“In line with Wakaf Pulau Pinang’s strategic plan, this collaboration is the best platform to develop wakaf lands in Penang. We thank the Maybank Group through its subsidiary BinaFikir Sdn Bhd, for this collaboration. We believe with its expertise and suite of financial solutions, Maybank will be able to realise the development model of affordable housing on wakaf lands. On top of providing affordable housing, this collaboration aims to aid Wakaf Pulau Pinang to channel its benefits to those in need and we also believe it will be able to attract more developers to contribute in doing the same.” said Tuan Haji Rosidi Hussain, Chief Executive Officer, Wakaf Pulau Pinang.
Prior to the MoU signing ceremony, Maybank delegates led by Tan Sri Dato’ Sri Zamzamzairani Mohd Isa, paid a courtesy visit to Tuan Yang Terutama Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak, Governor of Penang, who is a former Board member of Maybank Islamic Berhad. The delegation was also joined by Dato’ Muzaffar Hisham, En Zolkefli Awang, Regional Director, Penang/Kedah/Perlis, Ms Sally Lye Saw Im, and Dr Muhd Ramadhan Fitri Elias, Head of Strategy, Maybank Islamic Berhad.
Chairman, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa with TYT Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak during the courtesy visit.
Maybank delegation with TYT Governor of Penang From left: Ms Sally Lye Saw Im; Dato’ Muzaffar Hisham, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa; En Zolkefli Awang; Dr Muhd Ramadhan Fitri Elias.
In line with our Sustainability agenda, Maybank to establish a sustainable ecosystem for wakaf land development in Penang.
Maybank through its subsidiary, BinaFikir Sdn Bhd (“BFSB”) has inked a Memorandum of Understanding (“MoU”) with Wakaf Pulau Pinang (“WPP”), a subsidiary of Penang State Islamic Religious Council (Majlis Agama Islam Negeri Pulau Pinang, “MAINPP”), to introduce a comprehensive model to develop the State’s wakaf land owned by MAINPP.
The signing of the MoU held on 3 March 2022 was witnessed by Tuan Yang Terutama Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak, Governor of Penang together with our Chairman, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa and Dr Roslan Ahmad, Deputy Chairman of MAINPP. Accompanying the Governor and Chairman were Dato’ Muzaffar bin Hisham, Group Chief Executive Officer, Global Banking and Dato’Hj Samsudin bin Bakar, Secretary of MAINPP. Signatories were Ms Sally Lye Saw Im, Executive Director, BinaFikir Sdn Bhd and Tuan Haji Rosidi Hussain, Chief Executive Officer, Wakaf Pulau Pinang.
Through this first collaboration of its kind, BFSB was appointed as the Principal Advisor, Lead Arranger and Financier for the development under the Rent-To-Own home ownership programme offered to eligible first home buyers for the state’s affordable housing on the wakaf land.
From left: Tuan Haji Rosidi Hussain, Chief Executive Officer, Wakaf Pulau Pinang; Dato’ Haji Samsudin Bakar, Secretary of Penang State Islamic Religious Council; Dr Roslan Ahmad, Deputy Chairman, Penang State Islamic Religious Council; Tuan Yang Terutama Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak, Governor of Penang; Tan Sri Dato’ Sri Zamzamzairani Mohd Isa, Maybank Chairman; Dato’ Muzaffar Hisham, Group Chief Executive Officer, Global Banking; Ms Sally Lye Saw Im, Executive Director, BinaFikir Sdn Bhd at the MoU signing.
In line with its sustainability agenda, Maybank through BFSB, the operator for HouzKEY and the first and only Rent-To-Own offered by Malaysian Islamic banks, will establish a sustainable ecosystem primarily driven by private sectors, through collaboration with developers and financial institutions to develop wakaf land for greater social impact. This is also to encourage the development of affordable housing to meet its ever increasing demand in the country.
“We believe that our success in easing many Malaysians in owning their first home via our innovative solution, HouzKEY that is aligned with Maqasid Shariah, will be able to help Wakaf Pulau Pinang to achieve its noble objectives. We hope Maybank’s involvement and our commitment in driving our Sustainability agenda will provide more confidence to real estate players to participate in this programme. We envision to roll this out in phases nationwide to benefit more eligible Malaysians to own a home.” said Ms Sally Lye Saw Im, Executive Director, BinaFikir Sdn Bhd.
“In line with Wakaf Pulau Pinang’s strategic plan, this collaboration is the best platform to develop wakaf lands in Penang. We thank the Maybank Group through its subsidiary BinaFikir Sdn Bhd, for this collaboration. We believe with its expertise and suite of financial solutions, Maybank will be able to realise the development model of affordable housing on wakaf lands. On top of providing affordable housing, this collaboration aims to aid Wakaf Pulau Pinang to channel its benefits to those in need and we also believe it will be able to attract more developers to contribute in doing the same.” said Tuan Haji Rosidi Hussain, Chief Executive Officer, Wakaf Pulau Pinang.
Prior to the MoU signing ceremony, Maybank delegates led by Tan Sri Dato’ Sri Zamzamzairani Mohd Isa, paid a courtesy visit to Tuan Yang Terutama Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak, Governor of Penang, who is a former Board member of Maybank Islamic Berhad. The delegation was also joined by Dato’ Muzaffar Hisham, En Zolkefli Awang, Regional Director, Penang/Kedah/Perlis, Ms Sally Lye Saw Im, and Dr Muhd Ramadhan Fitri Elias, Head of Strategy, Maybank Islamic Berhad.
Chairman, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa with TYT Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak during the courtesy visit.
Maybank delegation with TYT Governor of Penang From left: Ms Sally Lye Saw Im; Dato’ Muzaffar Hisham, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa; En Zolkefli Awang; Dr Muhd Ramadhan Fitri Elias.