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OSC Intro

. Posted in About Us

 

What is an 'Endowment‘ / Waqf

An endowment is a financial asset, in the form of a donation made to UniMAP, consisting of investment funds or other property that may or may not have a stated purpose at the bequest of the donor.

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.

 

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