SOCIAL FINANCE
This project introduced the concept of a pool of anonymous staff, students or individuals helping the poor students.
There are poor students in IIUM originating from different countries, cultural and families background who do not have enough money for emergency survival use or could not get their daily meals on consistent basis. This shall affect their concentration on their studies.
Hence two types of projects were initiated to assist the students:
1. Takaful Project
2. Mahabbah Food Programme
The donated amount are then pooled and managed by 2 officers; one officer at the Office of International Affairs and another officer at the Student Affairs and Development Division. Generally, the poor students would be given assistance in terms of food coupons or cash assistance.
The team members are always in contact with IIUM Endownment Fund, Finance Division, IIUM Sultan Haji Ahmad Shah Mosque, Mahallah, STADD Welfare unit & personal acquaintances to ensure each request for assistance are genuine.
OBJECTIVE OF THE PROJECT:
To promote the essential values of kindness, brotherly love and altruism
To bring about inner transformation
To set good example to others
To assist students with no monthly allowances
To contribute to the IIUM client charter
BUSINESS MODEL CANVAS FOR THE SOCIAL FINANCE PROJECTS
PROJECT 1 : TAKAFUL PROJECT
The Takaful project was initiated by the International Office in 2017. It was launched for the first project during the month of Ramadhan 2017. The project wishes to encourage the culture of giving among IIUM community disregard the amount.
The difference between this project from other types of financial assistance is that the process is kept simple and the assistance if given there and then to cover the students’ immediate need.
This project supports needy students throughout the year and welcomes staff as well as well off students to participate in the Takaful Project.
Different from other types of assistance given to the poor students within the IIUM such as Zakat Assistance, Scholarships or under Adopt a Student Programme; this social finance assistance application process is kept as simple as possible, without bureaucratic forms to be filled by the requestors to help them in time of emergency and the assistance is immediately disbursed upon request once a simple data check is performed.
The concept of trust and amanah are inculcated in students when making claims for assistance.
The team members are responsible to gather the list of donors by way of advertising through IIUM emails or words of mouth. Staff or students who are interested and have the capabilities to fund project may submit their names to the International Office (IO).
IO shall gathers data of staff, students or individuals who are willing to be contacted when there are request from the poor students for financial assistance to get their daily meals.
The personal information of the donors and recipients of donation remained as confidential.
PROJECT 2 : MAHABBAH FOOD PROGRAMME
The Mahabbah Food Programme was initiated by the Office of Student Affairs and Development Division (STADD). It assist the needy students in IIUM to get a free food.
The fund is provided by the IIUM Endowment Fund. Needy students simply pick up the coupon and use it at the Mahallah Cafe to pay for their foods.
Other than distribution of food coupons, packed food are also prepared and distributed to students at identified locations within the campus such as SHAS Mosque and Mahallah.
On top of that, for dry food supplies for needy IIUM students, IIUM has made a smart partnership with 99 Speedmart, Pasaraya Big and My Hope Mart. The programme was launched by the Minister of Domestic Trade & Consumer Affairs on 11th November 2019.
In conclusion:
This Social Finance (SDG) project supports the IIUM KHAIR values in the following way:
We as the IIUM staff (Khalifah) hold the Amanah to ensure the wellbeing of our students are taken care of. With these projects, it was hoped that the recipients (the future Khalifah) can smoothly continue their studies (Iqraa). These projects are Allah’s mercy to all IIUM students (Rahmatan lil Alamin).
