KUALA LUMPUR ,Finterra Technologies Sdn. Bhd. signed a memorandum of understanding (MOU) with Kasih Holdings Sdn Bhd, a non-profit organisation which seeks to help patients in need of medical treatment. The MOU exchange took place during the launching of the 7th edition of the Global Waqf Conference (GWC2019) on the 11th of November 2019 and was witnessed by YB Pn. Hajjah Fuziah binti Salleh, the Deputy Minister in the Prime Minister’s Department (Religion). In attendance were H.H Prince Dr Bandar Bin Salman Bin Muhammad Al-Saud, Chairman of Al-Madinah International University, Waqf Custodian of the Two Holy Mosques, King Abdullah Bin Abdulaziz Al-Saud Rahimahu Allah, and H.R.H Sultan Muhammadu Sa’adu Abubakar III, Sultan of Sokoto, Nigeria, at Dewan Tun Abdul Razak, Menara Kembar Bank Rakyat Kuala Lumpur.
Finterra was represented by its Executive Chairman while Kasih Holdings Sdn Bhd, was represented by its Director, Dr Mohd Zaqrul Razmal Mohd Podzi. As part of this collaboration, funds will be raised using Finterra’s WAQF Chain platform for the purchase of medical equipment at Kasih Holdings Sdn Bhd’s Waqf hospital in Putrajaya and Clinic in Cyberjaya. The Kasih Waqf hospital and Clinic has been working to deliver healthcare services at affordable pricing to the public. The Kasih hospital will be one of the first waqf hospitals in Malaysia and is already in talks to branch out to Kelantan first and later to other states in the nation.
As of today, the WAQF Chain platform already supports four causes published by Kasih Holdings alone, in order to help raise capital for medical equipment, to help a girl suffering from second-degree burns, and a boy who has been diagnosed with a congenital heart defect. In the long run, the WAQF Chain hopes to draw a bigger audience and response from the public, to contribute to causes on the WAQF Chain platform and to support more initiatives that can help and support more NGOs.
Finterra is an organization providing blockchain-based Islamic applications. Established in 2017, it currently has offices in Malaysia, Singapore, Hong Kong, India, Oman and UAE, with plans to further expand into Africa and Middle East. Its ecosystem comprises of core banking, digital banking and blockchain solutions, which have been created to promote technical advancement in areas of transparency, traceability and OMNI Channel Digital Banking.
Finterra’s flagship product, the WAQF Chain, has been developed to revitalise Waqf for the digital age, using blockchain technology. With relevant regulatory compliance built into its services, WAQF Chain solves core challenges in unlocking the value of endowed assets, whilst integrating options for Capital raise, Waqf management, and Asset management.
SOURCE : Finterra
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