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    zakat payment

    FREQUENTLY ASKED QUESTIONS

    1. What is Investment Zakat payment service?
    The Investment Zakat payment service is an initiative by Affin Hwang Asset Management Berhad (“Affin Hwang AM”) to help investors calculate and pay zakat on their Investments (with Affin Hwang AM only) to Lembaga Zakat Selangor (“LZS”). Meanwhile, for investments in other fund management and/or financial institutions, it is the responsibility of the respective investor to fulfil his/her Investment Zakat obligation on the assets. 

    2. How do you register/subscribe for the Investment Zakat payment service?
    Investors will need to complete the Investment Zakat payment service form provided by Affin Hwang AM.

    3. Do I need to submit the Registration Form for Zakat Payment every year?
    No. Investor only need to submit the Registration Form for Zakat Payment only once and this request shall be valid until the Investor submit the notice to discontinue with the Zakat payment services to Affin Hwang AM.

    4. Is there any fee for the Zakat payment services?

    No. Investor shall not incur any charges for these services.

    5. What are the types of investments taken into account in the payment of Investment Fund Zakat?

    The types of investments that shall be taken into account in the payment of Investment Zakat are individual single investment accounts in any Affin Hwang AM and AIIMAN Asset Management Sdn Bhd (“AIIMAN”) Shariah Compliant Fund and opened under cash plan with Affin Hwang AM only.

    The Investors shall be responsible for fulfilling the zakat obligations for joint accounts by themselves.

    Investment accounts opened using funds from the Employee Provident Fund (“EPF”) or investment accounts established under the Private Retirement Scheme (“PRS”) are exempted from Zakat calculations.

    6. Can any individual investor combine the Shariah compliant investment accounts opened with Affin Hwang AM and AIIMAN for the purpose of Investment Zakat calculation?

    Individual investors cannot combine Shariah compliant investment accounts opened both in Affin Hwang AM and AIIMAN for the purpose of investment Zakat deductions.

    7. How much is the Nisab for Investment Zakat calculation?

    The Nisab for Investment Zakat is 85 grams of gold based on the gold market price determined by the LZS.

    8. What is the Rate of Investment Zakat?

    The rate of Investment Zakat is 2.5%.

    9. What are the amount eligible for the purpose of the Zakat Investment?

    2.5% of the total investment value (subject to reaches Nisab and Haul) as at 31 October every year will be redeemed for the purpose of Zakat payment. The formula of the Zakat calculation is in accordance with the fatwa (shariah ruling) issued by Jawatankuasa Fatwa Negeri Selangor (Majlis Agama Islam Selangor) pursuant to Section 47 of the Enactment of the Islamic Administration (State of Selangor) 2003, Volume 64 No.7, Item 4 vis-à-vis Method of Zakat Assessment that was gazetted on 31 March 2011.

    10. How do you calculate Investment Zakat?

    The method of calculation of Investment Zakat has been agreed upon as follows between Affin Hwang AM and LZS as follows:

    Investment Zakat = Total Final Amount of Account Balances x Zakat Rate (2.5%)

    11. What is the Assessment Method of Investment Zakat used by Affin Hwang AM?

    The calculation of Investment Zakat is based on total amount of eligible account balance of the investor as at 31st of October each year. The annual 31st October date was chosen to allow Investors to make adjustments at the end of the year (“December”) to prevent the zakat for same account being paid twice.

    12. What is the criteria for a Investor’s account to be assessed for Investment Zakat?

    Table below depicted the criteria of account eligible to be assessed for Investment Zakat:

    1
    Yes
    No
    All investment accounts shall be assessed
    2
    Yes
    Yes
    All investment accounts shall be assessed
    3
    No
    Yes
    All investment accounts shall not be assessed


    13. Will investor accounts that have been frozen be assessed with Investment Zakat?

    No. Investors are wholly responsible for fulfilling their Investment Zakat obligations for assets that have been frozen.

    14. How do investors know the Investment Zakat payment process for the current year of assessment?

    Investors shall receive the first short message text (“SMS”) from Affin Hwang AM 14 days before the 31st October.

    Subsequently, investors shall receive a second short message text 14 days after the 31st October, informing them of the investment zakat payment deduction for the current year of assessment.

    15. How can investors view the status of investment zakat deduction at LZS?

    Investors can check the status and zakat payment record, upload and save the zakat payment deduction at LZS by registering for free at https://ezo.zakatselangor.com.my/

    16. Can investors choose to make their own zakat payments after Affin Hwang AM have calculated the amount of investment zakat to be paid?

    No. The payment of investment zakat is fully managed by Affin Hwang AM after investor has agreed to the services by signing the Registration Form for Zakat Payment.

    17. Will investors who pay investment fund zakat be eligible for tax rebates?

    Yes, they are eligible. Investors who make investment fund zakat payment via Affin Hwang AM shall get a tax rebate from the Inland Revenue Board (“LHDN”).

    18. Does the Investment Zakat Payment Service has an expiry date?

    No, there is no expiry date for the Investment Zakat Payment service. If investors want to terminate this service, he/she shall give notice in writing to Affin Hwang AM at any time before the 30th of September to inform them of the termination of the Investment Zakat service.

  • Bahasa
    pembayaran zakat

    SOALAN LAZIM

    1. Apakah yang dimaksudkan dengan perkhidmatan pembayaran Zakat Pelaburan?

    Perkhidmatan pembayaran Zakat Pelaburan adalah inisiatif Affin Hwang Asset Management Berhad (“Affin Hwang AM”) untuk membantu para pelabur mengira dan membayar zakat ke atas pelaburan mereka (yang dibuka dengan Affin Hwang AM sahaja) kepada Lembaga Zakat Selangor (“LZS”). Manakala, bagi pelaburan yang dibuka dengan institusi pengurusan dana dan/atau institusi kewangan lain adalah menjadi tanggungjawab para pelabur sendiri untuk melunaskan kewajipan Zakat Pelaburan ke atas harta tersebut.

    2. Bagaimanakah cara mendaftar/melanggan perkhidmatan pembayaran Zakat Pelaburan ini?

    Para pelabur perlu mengisi borang perkhidmatan pembayaran Zakat Pelaburan yang disediakan oleh Affin Hwang AM.

    3. Perlukah borang perkhidmatan pembayaran Zakat Pelaburan diisi setiap tahun?

    Tidak. Pelabur hanya perlu mengisi borang perkhidmatan pembayaran Zakat Pelaburan sekali sahaja sehingga Pelabur memaklumkan Affin Hwang AM untuk menamatkan perkhidmatan pembayaran Zakat Pelaburan tersebut.

    4. Adakah Pelabur dikenakan fi bagi perkhidmatan pembayaran Zakat Pelaburan?

    Tidak, Perkhidmatan pembayaran Zakat Pelaburan adalah percuma.

    5. Apakah jenis pelaburan yang di ambil kira untuk pembayaran Zakat Pelaburan?

    Zakat Pelaburan hanya tertakluk kepada akaun pelaburan individu persendirian di dalam mana-mana Dana-Dana Patuh Shariah Affin Hwang AM & AIIMAN Asset Management Sdn Bhd (“AIIMAN) yang dibuka di bawah pelan tunai dengan Affin Hwang AM sahaja.

    Pelabur perlu bertanggungjawab untuk melunaskan sendiri kewajipan zakat terhadap akaun pelaburan bersama.

    Akaun pelaburan yang dibuka melalui Kumpulan Wang Simpanan Pekerja (“KWSP”) atau di bawah Skim Persaraan Swasta (“PRS”) adalah dikecualikan daripada pembayaran Zakat.

    6. Bolehkan mana-mana pelabur individu menggabungkan akaun pelaburan patuh Shariah yang dibuka dengan Affin Hwang AM dan AIIMAN bagi tujuan pembayaran Zakat Pelaburan?

    Pelabur individu tidak boleh menggabungkan akaun pelaburan patuh shariah yang dibuka dengan Affin Hwang AM dan AIIMAN untuk tujuan pembayaran Zakat Pelaburan.

    7. Berapakah Nisab yang digunakan untuk pengiraan Zakat Pelaburan?

    Nisab bagi Zakat Pelaburan adalah 85 gram emas mengikut harga pasaran emas yang ditentukan oleh LZS.

    8. Berapakah Kadar Zakat Pelaburan?

    The rate of Investment Zakat is 2.5%.

    9. Berapakah jumlah yang diwajibkan bagi tujuan pembayaran Zakat Pelaburan?

    2.5% daripada jumlah akhir pelaburan yang cukup Nisab dan Haul pada 31 Oktober setiap tahun akan ditolak untuk tujuan pembayaran Zakat Pelaburan. Ini adalah berpandukan kepada keputusan Jawatankuasa Fatwa Negeri Selangor (Majlis Agama Islam Selangor) di bawah Seksyen 47 Enakmen Pentadbiran Agama Islam (Negeri Selangor) 2003 Jilid 64 No.7, Perkara 4 berkaitan Kaedah Taksiran Zakat yang diwartakan pada 31 Mac 2011.

    10. Bagaimanakah cara pengiraan Zakat Pelaburan?
    Cara pengiraan Zakat Pelaburan yang telah dipersetujui di antara Affin Hwang AM dan LZS adalah seperti berikut:
    Zakat Pelaburan = Jumlah Akhir Keseluruhan Baki Akaun x Kadar Zakat (2.5%)

    11. Apakah Kaedah Taksiran Zakat Pelaburan yang digunakan oleh Affin Hwang AM?

    Pengiraan Zakat Pelaburan adalah berdasarkan kepada jumlah keseluruhan baki akaun pelabur yang layak pada 31 Oktober setiap tahun. Pemilihan 31 Oktober adalah bagi memberi peluang kepada para pelabur untuk membuat pelarasan pada hujung tahun (“Disember”) bagi mengelakkan insiden akaun yang sama dizakatkan dua kali.

    12. Apakah kriteria akaun pelanggan yang akan ditaksir untuk Zakat Pelaburan?

    Kriteria akaun diterangkan seperti di dalam jadual di bawah:

    1
    Ya
    Tiada
    Semua akaun pelaburan perlu ditaksir
    2
    Ya
    Ya
    Semua akaun pelaburan perlu ditaksir
    3
    Tiada
    Ya
    Semua akaun pelaburan tidak perlu ditaksir


    13. Adakah akaun berstatus “dibekukan” akan ditaksir untuk Zakat Pelaburan?

    Tidak. Pelabur adalah bertanggungjawab sepenuhnya untuk melunaskan sendiri kewajipan Zakat Pelaburan mereka terhadap akaun yang “dibekukan”.

    14. Bagaimanakah pelabur mengetahui proses pembayaran Zakat Pelaburan yang perlu dibayar bagi tahun taksiran semasa?

    Pelabur akan menerima pesanan ringkas pertama (“SMS”) 14 hari sebelum 31 Oktober sebagai pemberitahuan berkenaan pelaksanaan Zakat Pelaburan.

    Seterusnya, pelabur akan menerima SMS yang kedua, 14 hari selepas 31 Oktober memaklumkan pembayaran Zakat Pelaburan untuk tahun taksiran semasa telah dilakukan

    15. Bagaimana pelabur ingin menyemak status pembayaran Zakat Pelaburan di LZS?

    Pelabur boleh menyemak status dan rekod bayaran zakat, memuatnaik dan menyimpan penyata potongan bayaran zakat di LZS dengan mendaftar secara percuma di https://ezo.zakatselangor.com.my/

    16. Adakah pelabur boleh memilih untuk membuat pembayaran Zakat Pelaburan sendiri setelah Affin Hwang AM membuat pengiraan zakat pelaburan yang wajib dibayar?

    Tidak. Pembayaran zakat pelaburan akan diuruskan oleh Affin Hwang AM sepenuhnya setelah borang pendaftaran pembayaran Zakat pelaburan diterima.

    17. Adakah para pelabur yang membuat pembayaran zakat pelaburan layak mendapat rebat cukai?

    Ya. Pelabur yang membuat pembayaran Zakat Pelaburan melalui Affin Hwang AM akan mendapat rebat cukai daripada Lembaga Hasil Dalam Negeri (“LHDN”).

    18. Adakah perkhidmatan Pembayaran Zakat Pelaburan ini mempunyai tempoh tamat?

    Tidak. Sekiranya pelabur ingin menamatkan perkhidmatan ini, pelabur perlu memberi notis bertulis kepada Affin Hwang AM pada bila-bila masa sebelum 30 September memaklumkan penamatan perkhidmatan pembayaran Zakat Pelaburan tersebut.

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Copyright © 2021 Affin Hwang Asset Management Bhd
TENG CHEE WAI

Managing Director
Teng Chee Wai is the founder of Affin Hwang Asset Management Berhad (Affin Hwang AM). Over the past decade, he has built the Company to be the fastest growing and only independent investment management house in Malaysia’s top three, with an excess of RM47 billion in assets under management as at 31 December 2018.​

​In his capacity as Managing Director / Executive Director, Teng manages the overall business and strategic direction as well as the management of the investment team. His hands-on approach sees him actively involved in investments, product development and marketing. Teng’s critical leadership and regular participation in reviewing and assessing strategies and performance has been pivotal in allowing the Company to successfully navigate the economically turbulent decade.

Teng’s investment management experience spans more than 20 years, and his key area of expertise is in managing absolute return mandates for insurance assets and investment-linked funds in both Singapore and Malaysia. Prior to his current appointments, he was the Assistant General Manager (Investment) of Overseas Assurance Corporation (OAC) and was responsible for the investment function of the Group Overseas Assurance Corporation Ltd.​

​Teng began his career in the financial industry as an Investment Manager with NTUC Income, Singapore. He is a Bachelor of Science graduate from the National University of Singapore and has a Post-Graduate Diploma in Actuarial Studies from City University in London.
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