Waqaf An-Nur Corporation Berhad

Name

Waqaf An-Nur Corporation Berhad

Legal name

Waqaf An-Nur Corporation Berhad

Website

https://waqafannur.com.my

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Islamic Social Finance and Waqf Management

NAICS

Trusts, Estates, and Agency Accounts (525920), Funds, Trusts, and Other Financial Vehicles (525), Health and Welfare Funds (525120)

SIC

Finance Services (6199), Hospital & Medical Service Plans (6324), Services-Membership Organizations (8600)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Islamic Investment Banking & Capital Markets Services (FSABAGAG), Islamic SME & Commercial Banking (FSABAGAB), Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Islamic endowment management
• Shariah-compliant microfinance
• Islamic pawnbroking services
• Subsidized healthcare clinics
• Community development programs

Headquarters

HQ city

Johor Bahru

HQ country

Malaysia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Wakaf Contributions and Donations: Waqaf An-Nur receives wakaf (charitable endowment) contributions from individuals, corporations, and government bodies. These funds are managed as Dana Waqaf An-Nur and used for ummah development programs. In 2025, RM10,368,031.09 was distributed from Dana Waqaf An-Nur. Revenue is generated from managing and growing the wakaf asset base, which exceeded RM1.2 billion as of January 2025.
2. Wakalah Zakat Management: Waqaf An-Nur acts as an agent (wakil) for managing corporate zakat (Islamic almsgiving) from entities such as Johor Corporation, Majlis Agama Islam Negeri Johor, Tenaga Nasional Berhad, Amanah Saham Nasional Berhad, and Suruhanjaya Syarikat Malaysia. In 2025, Waqaf An-Nur received RM4,182,832.40 in wakalah zakat mandates.
3. Dana Awam (Public Donations and Crowdfunding): Public donations received through mosque networks (Rangkaian Masjid An-Nur), clinic donation boxes, and strategic partner fundraising. In 2025, RM13,361,441.25 was received from Dana Awam sources.
4. Ar-Rahn Islamic Pawnshop (Waqaf An-Nur Gold Sdn Bhd): Ar-Rahnu (Islamic pawnshop) operations providing microcredit against gold collateral. For FY2025, WAN Gold recorded revenue of RM2.30 million (up 20% from RM1.92 million in 2024), profit before tax of RM1.02 million, and profit after tax of RM826 thousand. The company wakafates 5% of trading profits to Waqaf An-Nur's social programs.
5. Wakaf Asset Investment and Reinvestment: Waqaf An-Nur generates returns through investment of wakaf assets across equities (portfolio investments in KPJ Healthcare, Al-Aqar Healthcare REIT, Al-Salam REIT, Larkin Sentral Property), real estate (office units, commercial buildings, land), and equity trading. Reinvestment portfolio totals RM230.38 million including equity investments, IPO participation, office/retail rental (RM53.26 million in shops/offices, RM53.10 million in land), and ar-rahnu/ gold investments.
6. Dana Niaga Microfinance: Islamic microfinance products including Qardhul Hassan (Benih Niaga: RM1,500 for 15 months; Pembiayaan Berperingkat: RM3,000-RM5,000 for 24-25 months) and Murabahah Tawarruq (RM7,000-RM20,000 for 36-60 months at 4%-6%). Total financing disbursed: RM2.02 million to 637 beneficiaries.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels9 records

Core offering

Waqaf An-Nur Corporation Berhad is an Islamic social enterprise that manages wakaf (endowment) assets and delivers Shariah-compliant community services including subsidized healthcare through KWAN clinics, Islamic microfinance via Dana Niaga, gold-backed pawnbroking through Ar-Rahnu FLASH, digital gold trading via An-Nur Gold, and welfare distribution programs targeting asnaf and B40 communities in Malaysia. The corporation acts as Nazir Khas (Special Trustee) appointed by Majlis Agama Islam Negeri Johor and operates with over RM1.2 billion in wakaf assets under management.

Product overview

Waqaf An-Nur Corporation Berhad is an Islamic waqf (endowment) management corporation operating as a platform of interconnected Shariah-compliant products and community programs. The portfolio comprises: (1) Wakaf Investment Products including Hibah Lil Waqaf, PMB An-Nur Waqf Income Fund (PAWIF), and Pewakafan Yuran Keahlian; (2) Islamic Financial Services featuring Ar-Rahnu FLASH pawnshop network and An-Nur Gold online gold trading platform; (3) Healthcare Services through Klinik Waqaf An-Nur (KWAN) clinics, Dialisis@myRumah, and An-Nur Care takaful protection; (4) Micro-enterprise Development via Dana Niaga micro-financing, Pusat Waqaf Komuniti (PWK) skills training, and Waqaf Tani Komuniti farming program; and (5) Welfare Distribution through Dana Kebajikan Am. The company manages over RM1.2 billion in waqf assets and has distributed over RM102 million for community development since 2006.

Differentiator

Problem solved

Functional benefit

Brands

• Klinik Waqaf An-Nur (KWAN): Healthcare clinics providing affordable medical services, including dialysis at RM130 and outpatient services at RM10. KWAN has 21 clinics including 10 mobile clinics across Malaysia.
• Ar-Rahnu FLASH
• Ar-Rahn
• An-Nur Gold
• Dana Niaga
• An-Nur Care
• Dialisis@myRumah
• Pusat Waqaf Komuniti (PWK)
• Waqaf Tani Komuniti
• Briged Waqaf

Products and services

• Klinik Waqaf An-Nur (KWAN) A network of 21 subsidized healthcare clinics (including 10 mobile clinics) providing outpatient consultations at RM10 per visit and dialysis treatment at RM130 per session, supported by KPJ specialist hospitals. Open to all patients with 7% being non-Muslim, targeting asnaf and B40 underserved communities.
• Dana Niaga Islamic Microfinance Islamic micro-financing facility offering Qardhul Hassan (interest-free loans: Benih Niaga RM1,500 for 15 months, Pembiayaan Berperingkat RM3,000-RM5,000 for 24-25 months) and Murabahah Tawarruq (RM7,000-RM20,000 for 36-60 months at 4%-6% profit rate) to micro-entrepreneurs. Total financing of RM2.02 million disbursed to 637 beneficiaries.
• Ar-Rahnu FLASH / Ar-Rahn Islamic Pawnshop Shariah-compliant pawnshop (Ar-Rahnu) services offering micro-loans against gold collateral. Operated through Waqaf An-Nur Gold Sdn Bhd across five branches in Johor. WAN Gold recorded FY2025 revenue of RM2.30 million with 5% of trading profits wakafated to social programs.
• An-Nur Gold Digital Gold Trading Platform Shariah-compliant online gold trading platform monitored by SALIHIN Shariah Advisory and Waqaf An-Nur Shariah Expert Committee. Features 24-hour buy/sell transactions with real-time LBMA gold pricing, minimum purchase of RM10, 1% per annum storage fee, physical gold withdrawal from 0.5g to 100g, free registration, and automatic wakaf contribution from customer transactions.
• Dialisis@myRumah Home Dialysis Program Automated Peritoneal Dialysis (APD) program enabling underprivileged dialysis patients to receive treatment at home, reducing infection risks and enabling return to work. Operated in partnership with Capaian Aspirasi Sdn Bhd (project management) and Lucenxia (M) Sdn Bhd (medical equipment supplier).
• An-Nur Care Group Takaful Plan Free Shariah-compliant group takaful plan providing outpatient clinic coverage for eligible asnaf recipients aged 1-100 years. Offered in partnership with Prudential BSN Takaful without underwriting requirements, providing medical protection to the underserved.
• Hibah Lil Waqaf

Quantifiable outcome

• RM102 million+ distributed since 2006, benefiting 2+ million recipients
• +4 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

18 partnerships are on record, tiered major, supporting and core.

• Capaian Aspirasi Sdn. Bhd.majorStrategic or Co-development Partner · 1 November 2023Strategic partner for Dialysis@myRumah program implementing Automated Peritoneal Dialysis (APD) for underprivileged dialysis patients. Capaian Aspirasi (a JCorp subsidiary with 75% shares wakafated to Waqaf An-Nur) serves as project manager and handles patient acquisition from Johor public hospitals.
• Lucenxia (M) Sdn BhdmajorTechnology or Integration · 1 November 2023Medical equipment supplier providing APD (Automated Peritoneal Dialysis) machines for the Dialysis@myRumah program. Also provides nursing support and patient monitoring services as part of the home dialysis program.
• Suruhanjaya Syarikat Malaysia (SSM)supportingGTM or Marketing Partner · 1 June 2023SSM provides Wakalah Zakat corporate zakat funding for Waqaf An-Nur's entrepreneur development programs (RM6.49 juta allocation). SSM's peruntukan supports micro-enterprise training and grants for asnaf entrepreneurs in Johor and Melaka.
• Koperasi Permodalan Kelantan Berhad (KoPKB)supportingChannel Partner/ Reseller/ Distributor · 25 January 2022KoPKB partnered with Waqaf An-Nur to open Ar-Rahn Tampoi (opened January 25, 2022) and Ar-Rahn Segamat (opened April 13, 2025) branches under the Ar-Rahn FLASH brand.
• Larkin Sentral Property Sdn BhdsupportingOthers · 1 January 2008Larkin Sentral Property (100% owned by Waqaf An-Nur) owns the Larkin Sentral transportation terminal and market complex. Total paid-up capital of RM96,061,160 with total asset value of RM209 million as of December 31, 2023. Building sits on 16.23 acres of land.
• KPJ Healthcare BerhadcoreStrategic or Co-development PartnerKPJ Healthcare Berhad is the primary healthcare partner for Klinik Waqaf An-Nur (KWAN). KWAN clinics are fully supported by KPJ's specialist hospitals. KWAN operations are coordinated by a KWAN Coordination Committee chaired by KPJ Senior Management. KPJ is a major asset in Waqaf An-Nur's Ain Wakaf portfolio (RM680.22 million, 7.03% value share).
• Majlis Agama Islam Negeri Johor (MAIJ)coreStrategic or Co-development PartnerMAIJ appointed Waqaf An-Nur as Nazir Khas to manage wakaf assets and as wakalah agent for corporate zakat collection. MAIJ is a major contributor to Waqaf An-Nur's Wakalah Zakat fund (RM4,182,832.40 in 2025).
• Johor CorporationcoreStrategic or Co-development PartnerJohor Corporation (JCorp) originally donated wakaf assets/shares to Waqaf An-Nur at establishment in 2006 and continues as a major corporate zakat contributor through Wakalah arrangements. JCorp's group companies (KPJ, Al-Aqar REIT, Al-Salam REIT, Larkin Sentral Property) form the core of Waqaf An-Nur's wakaf asset ecosystem.
• Prudential BSN Takaful Berhad (PruBSN)coreStrategic or Co-development PartnerStrategic partnership for An-Nur Care, a free Shariah-compliant group takaful plan providing outpatient clinic coverage for eligible asnaf aged 1-100 years. PruBSN (company registration 200601020898 / 740651-H) co-designed the product with Waqaf An-Nur to provide medical protection for the underserved.
• Tenaga Nasional Berhad (TNB)supportingGTM or Marketing PartnerMajor contributor to Waqaf An-Nur's Wakalah Zakat fund through corporate zakat mandates.
• Amanah Saham Nasional Berhad (ASNB)supportingGTM or Marketing PartnerContributes to Waqaf An-Nur's Wakalah Zakat fund through corporate zakat mandates.
• SALIHIN Shariah AdvisorycoreTechnology or IntegrationShariah advisory firm that monitors and approves the An-Nur Gold digital gold trading platform as Shariah-compliant, alongside Waqaf An-Nur's own Shariah Expert Committee.
• Al-Aqar Healthcare REITsupportingOthersAl-Aqar Healthcare REIT is part of Waqaf An-Nur's Ain Wakaf portfolio with RM18.22 million in value (2.173% of portfolio). Al-Aqar is managed by Damansara REIT Managers Sdn Berhad, a JCorp group company.
• Al-Salam Real Estate Investment TrustsupportingOthersAl-Salam REIT is part of Waqaf An-Nur's Ain Wakaf portfolio with RM16.83 million (9.96% share). Al-Salam REIT holds 54 properties across Malaysia including shopping malls, office buildings, and F&B outlets.
• AgrobanksupportingGTM or Marketing PartnerAgrobank provides Wakalah Zakat funding for the Aris Burger entrepreneur development program alongside JCorp's business zakat.
• Bank Muamalat Malaysia BerhadsupportingOthersOne of the banking channels for Dana Klinik Waqaf An-Nur donations. Account: 01010003208718.
• Bank Islam Malaysia BerhadsupportingOthersOne of the banking channels for Dana Klinik Waqaf An-Nur donations. Account: 1087010009309.
• Maybank Islamic BerhadsupportingOthersOne of the banking channels for Dana Klinik Waqaf An-Nur donations. Account: 5510-1630-1344.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Bank Islam Malaysia Berhad: Malaysia's oldest Islamic bank, offering Ar-Rahnu pawnbroking, Murabaha financing, and corporate zakat management services. Comparable in product overlap with Waqaf An-Nur's microfinance and Ar-Rahn operations, but operating as a regulated bank at substantially larger scale.
• Bank Muamalat Malaysia Berhad: Full-fledged Islamic bank operating Ar-Rahnu (Islamic pawnbroking) branches nationwide, alongside Shariah-compliant financing products (Murabaha, Ijara, Tawarruq). Directly comparable on the Ar-Rahnu microfinance and Islamic financing product set that Waqaf An-Nur's Dana Niaga and Ar-Rahn FLASH offer, but at much larger balance-sheet scale.

Direct peers

• Perbadanan Wakaf Selangor: Selangor's state-level wakaf corporation, similarly appointed by the Selangor Islamic Religious Council (MAIS) to manage wakaf assets, collect corporate zakat, and fund ummah development programs. Direct structural and operational peer to Waqaf An-Nur's Nazir Khas model, though operating in Selangor rather than Johor.
• Yayasan Waqaf Malaysia: National-level Malaysian waqf foundation established to coordinate and promote wakaf development across states. Closest national counterpart to Waqaf An-Nur's mandate of scaling Islamic social finance, with overlap in wakaf investment product offerings and corporate fundraising.
• Yayasan Tun Razak: Major Malaysian philanthropic foundation that combines waqf-style endowment management with community development programs (education, enterprise development, community welfare). Comparable in the integrated endowment-plus-community-development model that Waqaf An-Nur operates, though at a different scale and with broader programmatic scope.
• Public Gold Sdn Bhd: Malaysia's leading Shariah-compliant physical and digital gold investment platform, allowing retail customers to buy/sell gold with LBMA pricing. Direct competitor to An-Nur Gold on the digital gold trading proposition, with significantly larger scale, broader product range, and more established marketing presence.

Others

• KPJ Healthcare Berhad: JCorp-owned private specialist hospital group and primary healthcare infrastructure partner for KWAN clinics. Included as a peer/related entity because Waqaf An-Nur's subsidized healthcare delivery model is operationally dependent on KPJ's specialist hospital network and shared clinical systems.

Emerging players

• Prudential BSN Takaful Berhad: Malaysian takaful operator that co-designed the An-Nur Care free group takaful plan with Waqaf An-Nur. Comparable in takaful product design and asnaf/B40 healthcare financing innovation, though PruBSN is the licensed takaful underwriter while Waqaf An-Nur is the distribution/community partner.
• Koperasi Permodalan Kelantan Berhad (KoPKB): Kelantan-based Islamic cooperative and Ar-Rahnu operator that partnered with Waqaf An-Nur to open the Ar-Rahn Tampoi and Ar-Rahn Segamat branches. Peer on Islamic pawnbroking operations and on Shariah-compliant microfinance distribution, operating as a regional Islamic cooperative player.

Regional players

• Majlis Agama Islam dan Adat Melayu Terengganu (MAIDAM) Wakaf Unit: Terengganu state religious council with its own wakaf management arm, administering state-level Islamic endowment assets and corporate zakat. Regional peer to Waqaf An-Nur in terms of state-level wakaf trustee mandate, though operating in a different geography with different sector emphasis.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/waqafannur
• LinkedInlinkedin.com/company/waqaf-an-nur-corporation-berhad
• Instagraminstagram.com/waqafannur

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Waqaf An-Nur Corporation Berhad