13  May 2008
State Zakat agencies adopt Maybank2e.net solution

State Zakat agencies adopt Maybank2e.net solution for online Zakat payment to corporation

Maybank today signed a Memorandum of Agreement (MoA) with three zakat bodies namely Pusat Pungutan Zakat Majlis Agama Islam Wilayah Persekutuan (PPZ MAIWP), Lembaga Zakat Selangor (LSZ) and Pusat Zakat Negeri Sembilan (PZNS) for online zakat payment service through Maybank’s integrated web-enabled cash management portal, Maybank2e.net.

Under this service agreement, business corporations and their employees in Wilayah Persekutuan, Selangor and Negeri Sembilan can now undertake online zakat payment with the implementation of Maybank2e.net solutions, the country’s first Islamic Internet-based cash management financial portal, incorporating Shariah-compliant features to facilitate Islamic banking activities including offering Zakat payment facilities.

The signing ceremony was held today in Kuala Lumpur and representing Maybank were Dato’ Aminuddin Md Desa, Executive Director and Chief Financial Officer and Encik Rozidin Masari, Head of Business Banking. The other signatories were Dato' Haji Mustafa bin Abdul Rahman, Chairman of PPZ MAIWP, Dato' Setia Hj Mohamad Adzib bin Mohd Isa, Chairman of LSZ and Dato’ Haji Mohd Fadzil, Director of PZNS.

“We commend the zakat agencies for their innovativeness in implementing IT technology and solutions for their customers and enhancing their services to corporations with the implementation of Maybank2e.net for online zakat payments for corporations. Corporations can now conveniently offer zakat payments via salary deduction for Muslim employees,” said Dato’ Aminuddin.

Dato Aminuddin also said that the online zakat payment will bring positive benefits to both the zakat agencies and corporations. “Zakat payment by Muslim employees can now be done online via the internet conveniently and timely while the zakat agencies will be able to receive payments online. This takes away the many time consuming manual procedures for zakat payment and collection. Maybank2e.net will automate the zakat payment and collection and resolve many of the issues related to handling cash such as security and consolidation,” he added.

Zakat payments saw a seven fold increase from RM61 million in 1991 to RM473 million in 2004, the larger portion were collected by these three states agencies.

“With the introduction of Maybank2e.net, we anticipate about 120 corporations will be using our new online zakat payment facility in the next 12 months,” said Dato’ Aminuddin.

Since the introduction of Maybank2e.net in the 1990s, Maybank2e.net has enhanced its services to into a robust and comprehensive cash management solution offering facilities such as Payroll Services, EPF Services, SOCSO Services, ZAKAT Services, Inter and Intra bank payments via RENTAS, etc, standing Instructions, loan payment, account inquiries, cheque Management, reconciliation, trade finance, custody services, merchant settlement reports, eDividend, eCollection and a comprehensive list of online management reports.

Maybank2e.net has also received international recognition, among them the Asiamoney Award from 2003 to 2007 and The Asset Triple A Award for Best Cash Management Bank for Malaysia for three consecutive years.