Shah alam: The Selangor Islamic Religious Council (MAIS) has announced a strategic collaboration with the Employees Provident Fund (EPF) aimed at enhancing understanding among the Muslim community in Selangor regarding syariah-compliant wealth and financial management.

According to BERNAMA News Agency, MAIS chairman Datuk Salehuddin Saidin revealed that the council had recorded RM2.7 million in non-syariah-compliant funds last year, highlighting that many Muslims in Selangor were still utilizing non-syariah-compliant financial sources. This partnership seeks to address this issue by implementing joint initiatives to promote syariah-compliant financial practices and raise awareness about the importance of such practices for strengthening the ummah’s economy.

Salehuddin elaborated on the collaboration’s initiatives, which include offering Islamic estate management courses to EPF staff, especially those working at branch frontlines, through Akademi Baitulmal MAIS. Additionally, they plan to promote the EPF Syariah Savings Account and encourage nominations for EPF savings during Friday sermons at mosques across Selangor.

The collaboration will also see joint promotion of Baitulmal MAIS products and services through various programs and courses organized by both MAIS and EPF. Briefings, workshops, and discussions on MAIS’s eligibility to be appointed as a nominee for Muslim EPF members will also be conducted.

Salehuddin expressed a goal to increase public awareness, targeting RM3 million in non-syariah-compliant fund collections this year, encouraging Muslims to direct such funds to MAIS for the benefit of the community. He emphasized the need for society to ensure their wealth is syariah-compliant and urged those with EPF Conventional Savings Accounts to switch to the Syariah Savings Account for halal dividends.

EPF chairman Tan Sri Mohd Zuki Ali noted that of the more than 1.55 million Muslim EPF members in Selangor, only 542,844, or 34.81 percent, are registered under the Syariah Savings Account. He highlighted the potential for increased participation through the partnership with MAIS, as many Muslims in Selangor are involved in social and economic programs managed by MAIS.

The Memorandum of Understanding (MoU) marking this collaboration was signed by MAIS secretary Mohd Sabirin Mohd Sarbini and EPF chief operating officer Sazaliza Zainuddin, and witnessed by Salehuddin and Mohd Zuki.