About RM25 million a year will be channeled to assist these 5,000 students, especially those entering universities, the foundation’s Chief Executive Officer Ghazali Mohd Yusoff told Star Online.

Under the first scheme, university freshmen will get RM1,500 grants to cover allowances and transport cost for their first three months of studying.

Students from families with a household income of below RM3,000 are eligible to receive this aid.

A one-off RM2,000 assistance will also aid students in their research, thesis and to complete their studies.

Ghazali called on businesses and individuals to contribute generously to the foundation to empower the future generation. Contributions are tax-exempt.

“We will invest all contributions into Shariah-compliant investments and the earnings will be utilised for disbursement to selected students or institutions.”