What is an 'Endowment‘ / Waqf
Most endowments are designed to keep the principal amount intact while using the investment income from dividends for the specified purpose of UniMAP.Waqf is an Islamic endowment of property/cash which is to be held in trust and used for charitable or religious purpose (UniMAP work closely with MAIPs).
An integral part of western academic institutions that a fair measure of a college or university’s wellbeing can be the size of their endowment. Provide colleges and universities with the ability to fund their operating cost with sources other than tuition, and ensure a level of stability by using them as a potential ‘rainy-day-fund’.
In Malaysia, endowment and waqf are parts of the strategies to provide opportunities for philanthropist and donors to make an endowment or waqf for long term development of a university.
Use of endowments in Universities and Colleges
Objective to One Stop Centre:
a) To assist coordinate and standardize things related to generating fund raising in university.
b) The purpose of this establishment to assist them in generating University, helped in raising finance RC /Entreprise Fund and help in increasing the amount of the endowment in RC / department involved.