An initiative born out of acknowledging the void in the social welfare sector, Sadaqa House was inspired based on the collective ideas of several stakeholders, led by Bank Islam, making it the first Islamic Bank in Malaysia to introduce such a concept in the Islamic Banking framework through Islamic crowdfunding digital banking system.
While the Bank plays an important role to complete all Islamic economy building blocks under one roof, “Sadaqa”, which translates into the word “donation”, is all about wealth distribution, the highest process in managing wealth from an Islamic perspective. Sadaqa House plays a vital role as an intermediary and as a meeting point between both donors and change-makers as well as beneficiaries.
Donations collected from the public will be done through good governance and professional fund management.
The central bank, Bank Negara Malaysia had introduced a Value-Based Intermediation (VBI) as an intermediation function that aims to deliver the intended outcomes of Shariah through practices and offerings that generate positive and sustainable impact to the economy, community and environment.
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