Sadaqa House Bank Islam
| Sadaqa House is a globally recognised social finance driver that mobilises the philanthropic capitals of sadaqah (voluntary charity), waqf (endowment) and zakat (tithe) to make positive outcomes and tangible differences for the country’s unbanked and underserved segments within an inclusive Islamic economic ecosystem in Malaysia.
Throughout our five-year journey, Sadaqa House continuously enhanced every facet of delivering funds within the Islamic banking framework, aiming to achieve upward mobility for our beneficiaries. Sadaqa House has helped bring to life Bank Islam’s vision for Value-based Intermediation (VBI), creating impact for over 17,500 beneficiaries throughout Malaysia.
The VBI model facilitates the provision of blended finance, funding escalators, and finances more impactful projects for the unbanked and underserved segment. These efforts align with Thrust 5 outlined in Bank Negara Malaysia’s Financial Sector Blueprint 2022–2026, which includes mainstreaming social finance. Sadaqa House is dedicated to creating a sustainable and positive global impact through meticulous governance and professional fund management. Our unwavering commitment ensures that every contribution is strategically directed towards transformative projects that enhance lives, building trust and confidence in its initiatives. In the true Malaysian spirit of inclusivity, Sadaqa House welcomes and serves Muslims and non-Muslims as donors and beneficiaries. This inclusive approach embodies Bank Islam’s core belief that philanthropy should be a universal opportunity, fostering a culture of giving that transcends religious barriers. At Sadaqa House, we aim to cultivate a global philanthropic culture, providing end-to-end donation management to maximise impact. We are dedicated to supporting charitable endeavours on a global scale, ensuring that every donation is managed transparently and efficiently, transforming the lives and communities across the globe. Join us in making a difference. Together, we can reach beyond borders, harnessing the power of global generosity to create a brighter, more inclusive future for all. |
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In 2018, Bank Islam launched a social finance initiative called as Sadaqa House, a hybrid between technology and Shariah solutions. It is a participatory social finance platform which acts as a meeting point between donors and change-makers as well as beneficiaries oversighted by Bank Islam. With Sadaqa House, we create a new narrative where participatory funding platform is teaming up with traditional banking to create combined offers for social impacts.
And because Sadaqa House has a bank behind it, thus, all corporate governance practice of the Bank is adopted within its internal process. This is crucial because the Bank performs due diligence on behalf of donors towards the change-makers and beneficiaries of the fund who are of diverse backgrounds, races and religions. We understand the transparency and social impacts are key concerns to any donors, hence, the system within Sadaqa House allows contributors to track the progress of the chosen project.
On 27 May 2022, the Sadaqa House Orphan Fund was launched with a strong aspiration to safeguard the welfare and education of orphans, from new-born babies to adolescents, regardless the race or religion.
The launch marks another significant milestone achieved by the Bank in optimising Islamic social finance instruments to ensure the sustainable livelihood of the community.
The new fund, themed “From Cradle to Graduation”, aims to benefit orphans, from new-borns to adolescents, throughout the country. It ensures that the orphans are not lagging in education and allows them to complete their studies until the tertiary level.
To learn more on the Sadaqa House Orphan Fund click here
Financial Highlights
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Channel of Contribution:
| Fund Transfer |
Sadaqa House 140 140 101 88888 Bank Islam Malaysia Berhad
Sadaqa House Orphan Fund |
| Bank Islam Credit Card-i |
Through the redemption of Trupoints Rewards at: https://trurewards.bankislam.com (Category Product: Welfare) |
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DuitNow QR Code Step 1
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Sadaqa House
Sadaqa House Orphan Fund |
| Infaqpay |
Monthly donation to Sadaqa House through Infaqpay via link: https://infaqpay.my/go/sadaqahouseorphanfund |
Tax deductible (for Malaysians)
According to the allocation of subsection 44(6) Act of Income Tax 1967 your donation is tax deductible if you donate to:
- Yayasan IJN (Ref LHDN.01/35/42/51/1796.4359)
- Yayasan Sultanah Bahiyah (Ref LHDN. 01/35/42/51/179-6.4481)
RM50 and above amount of donation are eligible to demand the tax deduction. This agreement applicable from 1st May 2019 to 31st June 2024.
Please e-mail to sadaqahouse@bankislam.com.my, and we will guide you on how to request for tax deduction receipt.
The uniqueness of Sadaqa House as the participatory social finance platform
Sadaqa House has become a meaningful channel for giving back to society by playing a vital role as an intermediary and meeting point between donors, change-makers and beneficiaries. We aim to integrate a participatory funding platform with Bank Islam’s robust governance, expertise, and infrastructure in traditional Islamic banking to drive positive social impacts. Our focus is on supporting projects that address education, healthcare and poverty alleviation.
With utmost responsibility, accountability, and transparency, Sadaqa House collects, manages and distributes the public’s donations. These contributions are the lifeblood that enables us to realise identified charitable projects for underserved communities.
Fund Categories
We welcome generous individuals and institutions to choose Sadaqa House to manage your philanthropic fund and let us professionally manage your fund for charitable causes through four selections of funds:
- Perpetual Fund: where the principal will remain in perpetuity and invested, only the returns generated will be distributed to charitable causes;
- General Fund: where donors do not specify any specific charitable projects and it is the discretional of Bank Islam’s Zakat & Charity Committee to decide the distribution according to available and suitable charitable projects;
- Direct Fund: where donors can choose to donate directly to charitable projects under Sadaqa House; and
- Wakalah Zakat Fund. Wakalah zakat is a portion of Bank Islam’s zakat refunded by the State Islamic Religious Councils for self-distribution.
For further information:
| https://www.facebook.com/sadaqahouse/ | |
| https://www.instagram.com/sadaqa_house/ | |
| YouTube | https://www.youtube.com/channel/UCUhCMHlwkMpM2ICXwpGi0BA |
| Bank Islam | Sadaqa House Bank Islam Malaysia Berhad Level 21, Menara Bank Islam No 22, Jalan Perak 50450 Kuala Lumpur |
| sadaqahouse@bankislam.com.my | |
| Telephone No. | +6011- 5678 9083 |
Management of Fund
Sadaqa House is operated by the Group Financial Inclusion Division of Bank Islam and is guided by Sadaqa House Management Guideline, which was approved by the Management Risk Control Committee and Shariah Supervisory Council of the Bank.
The Sadaqa House and Zakat Committee is the dedicated management sub-committee that provides oversight and direction on the strategies, processes, and activities of Sadaqa House.
Governance of Sadaqa House
In managing the public donations of Sadaqa House, the Bank remains steadfast in promoting and sustaining a strong culture of corporate governance in order to protect the interests of all stakeholders, including the donors and beneficiaries. In this respect, the Board is fully committed to adopting high standards of business integrity, ethics and professionalism with the right executive leadership and strategy. At the same time, the Board ensures internal controls, risk management and compliance to Shariah rules and principles govern all the Bank’s initiatives, including Sadaqa House.
To learn more on the governance structure, please go through our Impact Report.
The four main sectors where funds are channelled are Community Empowerment, Healthcare, Education and Environment. These are in line with the underpinning thrust of Bank Negara Malaysia’s Guidance Documents on Value-Based Intermediation (VBI) for Islamic banks.
Sadaqa House aims to enable and support community-led actions that strengthen social cohesion and inclusivity through sustainable economic and social empowerment within communities.
Sadaqa House aims to support underserved communities to have access to quality health treatment.
Sadaqa House aims to support efforts of community to ensure every child has access to quality education with emphasis on holistic learning outcomes.
Sadaqa House aims to protect natural capital and resources through building of environmental consciousness as well as supporting renewable energy efforts.
Changemakers:
Community Empowerment |
Yayasan Sultanah Bahiyah
MyVista
Mercy Mission Malaysia
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Healthcare |
Institut Jantung Negara Foundation (IJNF)
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Education |
Buku Jalanan Chow Kit (BJCK)
Brain For Future (BFF)
Pertubuhan Kegiatan Dakwah Islamiah Sekolah-Sekolah Malaysia (PEKDIS)
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Environment |
Universiti Teknologi Malaysia (UTM)
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iTEKAD BangKIT Changemakers:
Impact Report 2023 |
Click here to download |
Impact Report 2022 |
Click here to download |
Impact Report 2021 |
Click here to download |
Impact Report 2020 |
Click here to download |
