Petaling Jaya, 4 March 2026 –MBSB Bank has partnered with WAZAN Universiti Putra Malaysia to provide RM295,200 in Aidilfitri assistance to 984 undergraduate students at Universiti Putra Malaysia (UPM), reinforcing efforts to channel zakat funds more directly to students facing financial hardship.
The festive aid initiative was held alongside UPM’s annual Majlis Berbuka Puasa dan Solat Tarawih Bersama DYMM Tuanku Canselor UPM at Dataran Masjid UPM. The ceremony was graced by Sultan Sharafuddin Idris Shah, who serves as Tuanku Canselor of the university.
During the event, a symbolic mock cheque presentation highlighted the bank’s contribution toward supporting underprivileged students, particularly those classified as Asnaf, ahead of the upcoming Aidilfitri celebration.
Targeted Support for Asnaf Students
Under the collaboration, MBSB Bank is providing RM300 in living assistance to each of the 984 Asnaf students, helping them manage essential expenses during the festive period.
Data compiled by UPM in December 2025 identified more than 2,070 students at the university as Asnaf, requiring some level of financial support. Among them, the largest group, 1,787 students, are enrolled in Bachelor’s degree programmes, while the rest are studying in Diploma and Foundation courses.
Students classified under the fakir category face the most severe economic challenges, often struggling to cover daily living costs, academic needs and festive preparations.
Strengthening Zakat Governance
WAZAN, which manages waqf, zakat and infak funds at UPM, was established in 2016 and underwent a strategic rebranding in 2025. The organisation operates under core values centred on Ihsan (compassion), Adil (justice) and excellence, with an emphasis on transparency and disciplined fund management.
Through the partnership with MBSB Bank, the zakat distribution process aims to become more targeted and needs-based, ensuring that assistance reaches students who require immediate financial relief.
Supporting Students During Challenging Times
According to Rafe Haneef, the bank’s objective is to move toward a more responsive zakat distribution model, particularly for university students who may face financial strain that often goes unnoticed.
“Our goal is to move zakat toward a more responsive, targeted model of support. Many university students face acute financial strain that is often overlooked, especially during the festive season,” he said.
He added that the collaboration with WAZAN ensures assistance is delivered directly to those who need it most, providing timely support as students prepare for the Hari Raya Aidilfitri celebrations.
Advancing Social Impact Through Education Support
The initiative reflects a broader effort by Malaysian financial institutions to integrate social responsibility with education support, recognising that financial pressures can affect students’ ability to focus on their academic journeys.
By directing zakat funds to vulnerable students, the programme aims not only to ease short-term financial burdens but also to strengthen the long-term development of Malaysia’s future workforce.
