IIUM Endowment Fund(IEF) which has been established in 1999, is identical to Al-Azhar University Waqf and endowment fund of eminent universities in the UK and USA. The main purpose of its establishment is to assist the poor and needy students in our University who are academically good but incapable of financing the fees and the cost of living.

Since its establishment, IIUM Endowment Fund has initiated many activities to raise funds for the students, involving both internal and external parties. It includes the general donation from individuals, companies and organizations; Kafalah programme; RM1 Campaign; Collection of Zakat through the collaboration with Lembaga Zakat Selangor (previously known as Pusat Zakat Selangor). IEF has also involved itself to a few business collaborations to increase the capacity of the funds.