Bank Islam Malaysia Berhad (BIMB) distributed zakat contributions amounting to MYR55,000 to Universiti Utara Malaysia (UUM) to help ease the burden of students who are in need of financial assistance.

The Zakat Cheque was presented by the Acting Chief Executive Officer of BIMB, Mr. Mohd Muazzam Mohamed to the Bursar of UUM, Mr. Amron Man who represented the Vice-Chancellor.

According to Mr. Mohd Muazzam, the zakat contributions to UUM students which will boost the development of education is part of BIMB's CSR activities where a sum of MYR8 million is being allocated for the noble cause each year.

"We wish to apply the Value-Based Mediation Principle (VBI) that is part of our “DNA” as proposed by Bank Negara Malaysia.

"The principle of VBI is the business carried out by Islamic based banks such as Bank Islam which does not merely focus on sharia but has added value," he said at the Zakat Cheque Presentation Ceremony held at the Visitors’ Lounge recently.

He further spoke of the humble beginnings of the establishment. According to him, Bank Islam is the only bank that conducts transactions based on sharia principles which also include products and concepts. He also talked about the emergence of a growing number of Islamic based banks.

"Bank Islam focuses on prosperity and ecosystem, meaning that we see the impact on society and the environment. When conducting product based business, it is not just about fulfilling sharia requirements but also to add value," he said.

Bank Islam is committed to being a dedicated financial institution with the intention of building a sustainable future that promotes inclusive economy and social advancement for stakeholders while offering quality services.

"Thank you for continuing to collaborate with us since 2005, the Unidebit programme launched at UUM was the first programme launched by Bank Islam to be passed on to other public institutions of higher learning.

"Since then, we have continued to do some innovations in terms of promoting the concept of cash transactions at universities using debit cards," he said.

Meanwhile, Mr. Amron Man said students eligible to receive zakat aid are Muslims, UUM students and families earning MYR3,000 and below.

"We choose these students to help ease their burden especially those in the B40 group by giving coupons instead of cash to purchase food in effort to educate them," he said.

He was also grateful for the collaboration between UUM and Bank Islam which started 14 years ago. Changes have been seen over the years namely from the manual to electronic when Bank Islam introduced its smart cards.

"We have received zakat contributions from Bank Islam since 2005 and hopefully this cooperation is not limited to zakat, but much more since the budget for the university has been reduced," he added.

Also present at the event were members of the University Management Committee, Senior Officers of BIMB and university officials.

Translated by Mahaliza Mahadhir