Kenanga Buyers Bhd appointed as a fund supervisor

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(From left) Syed Zafilen Syed Alwee, chairman of the board of directors, Kenanga Investors Bhd, Idris Ahmad, Minister in the Prime Minister's Department (Religious Affairs), Charles Hay, British High Commissioner to Malaysia, Assoc Prof Dr Amir Shaharuddin, chief executive officer, Malaysia Waqf Foundation and Suhana Sidik, member of MATCH Foundation and board member of MRCS.(From left) Syed Zafilen Syed Alwee, chairman of the board of administrators, Kenanga Buyers Bhd, Idris Ahmad, Minister within the Prime Minister’s Division (Spiritual Affairs), Charles Hay, British Excessive Commissioner to Malaysia, Assoc Prof Dr Amir Shaharuddin, chief government officer, Malaysia Waqf Basis and Suhana Sidik, member of MATCH Basis and board member of MRCS.

KUALA LUMPUR: Kenanga Buyers Bhd has been appointed fund supervisor for Dana Wakaf Bencana – an emergency aid fund established for the needs of channelling sources to these impacted by local weather change-related disasters and future pandemics.

On Nov 10, Kenanga Buyers as fund supervisor, along with Malaysia Waqf Basis (YWM) and MATCH Basis (distribution company), signed a memorandum of settlement to make sure funds collected are invested and distributed in response to waqf ideas.

The signing was witnessed by Idris Ahmad, Minister within the Prime Minister’s Division (Spiritual Affairs) and Charles Hay, British Excessive Commissioner to Malaysia.

“We’re honoured to be appointed as fund supervisor for the emergency waqf fund in alignment with the twelfth Malaysia Plan and the federal government’s intention for elevated effectivity in waqf administration,” mentioned Ismitz Matthew De Alwis, government director and chief government officer of Kenanga Buyers Bhd.

“We sit up for offering assist to the waqf establishment via the institution of an emergency fund governance construction by way of this strategic partnership which can see the well timed deployment of sources to areas of want”, mentioned De Alwis.

He additional defined that the appointment is attributed to Kenanga Buyers’ monitor file in fund administration and expertise within the administration of waqf property by way of the Kenanga Waqf Al-Ihsan Fund which was launched in April 2021.

The emergency aid fund might be receiving a portion of the RM10mil allotted in Funds 2022 as a part of its preliminary seed funding, introduced in October 2021.

Funds obtained from institutional traders could be invested immediately right into a wholesale fund established by Kenanga Buyers who will handle and make investments it accordingly, according to the proposed fund construction.

Derived earnings might be distributed to traders and YWM respectively. YWM will then channel the allotted share of funds to MATCH Basis for emergency response activation for the returns to succeed in communities in danger.

In Malaysia, the Overseas Commonwealth and Growth Workplace (FCDO) appointed PwC Malaysia as advisor for the Islamic social finance house, who then reported the need of building an emergency fund to mitigate local weather associated disasters and to guard the lives and livelihoods of these most susceptible.

The FCDO, underneath the purview of the British Excessive Fee, runs the Monetary Providers and Mental Property Programme to strengthen financial progress by addressing poverty and inequality points in creating Southeast Asian international locations.

“The programme is a world effort and operates in six international locations that are Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam. It supplies technical help to Malaysia’s Yr 1 of the Prosperity ASEAN Financial Reform Programme by way of six workstreams: fintech, accounting requirements, mental property, anti-money laundering and monetary crime, capital markets, and Islamic finance.

“Kenanga Buyers recognises the significance of a agency pushed by environmental, social and governance (ESG) issues and objectives, and social duty is a serious facet of that agenda. It’s our duty, on behalf of asset house owners, to generate constructive ESG influence by way of their investments,” De Alwis mentioned.

“With this appointment, we hope to drive influence investing in Malaysia to new heights”, De Alwis added.

For extra data, go to www.kenangainvestors.com.my.



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