Description
“Wakaf Bot liberates the hard core poor fisherman from poverties”
Description
Boat waqf was implemented to improve the standard of living and economy of fishermen, especially coastal fishermen. The WPAR Fund will be used to provide boats and equipment including engines, trawlers and sonar to enable fishermen to explore deeper sea areas and thus increase their catch.
Beneficiaries of this project are coastal fishermen. WPAR funds will be used to purchase boats and its equipment and will be handed over to Fisheries Association as Project Manager for the use of fishermen.
50% of these rental proceeds will be used for the maintenance of the boat and while the other 50% will be turned into capital fund to build a new waqaf boat. The boat waqaf model will provide the fishermen continuous benefit and enhance the competitiveness in the Muslim community with the addition of ownership of the boat.
Info of the Boat
- Designed and built by Kuala Lumpur University Malaysian Institute of Marine Engineering Technology (UniKL MIMET);
- A class B boat;
- Has size of 30 feet long and 8 feet wide;
- Has a 115 horsepower engine and a 40-horsepower reserve engine;
- Equipped with nets, Garmin, marine robots and others; and
- Boat price is RM160,876.20
Problem Statement
There are 8,000 fishermen registered in Perak and the majority are Muslim Bumiputeras. However, less than 1% of fishermen communities with high capacity boats in Perak are Muslim bumiputeras.As a result, this fisherman community is unable to empower the family economy and compete in the fishing industry in Perak.
Statistics show that only 6% of the fishermen community in Malaysia with household income of RM1,000 – RM1,200. While the majority of them are only 41% earning around RM500 and 29% of them earning below RM400. It is therefore clear that these fishermen, especially Muslim Bumiputeras, should be given assistance to enable them to generate income that can improve their economy.
JMC Members
Chairman:
Dato’ Mohamed Rafique Merican Mohamed Wahiduddin Merican – CEO of Maybank Islamic
Committee Member:
- Dato’ Dr Amiruddin Mohamed – CEO of MAIPk
- Puan Hajah Wan Maizura – Deputy CEO of MAIPk
- En. Munawwaruzzaman Mahmud – Head of Shariah Management, Maybank Islamic
- En. Mohd Idham – Head of Islamic Global Market, Maybank Islamic
Mechanism/ Management of Project
- The built boat will be registered as a waqf asset of the Majlis Agama Islam Dan Adat Melayu Perak (MAIPk);
- The completed boat will be handed over and managed by the Persatuan Nelayan Manjung Selatan;
- The Persatuan Nelayan Manjung Selatan will lease boats to fishermen who are members of the association at a nominal rate; and
- 50% of rental revenue will be used for boat maintenance and 50% will be converted into round capital funds to build new waqf boats.
Impact of Project
- Fishermen are able to empower the family economy and compete in the fishing industry in Perak;
- Fishermen can rent a boat at a lower rate than normal rate;
- Assist fishermen for maximum profit gains; and
- Cultivate Muslims to give waqaf that can enhance the Muslim economy.
