Waqf investment management
Zulkifli bin Ishak is an accomplished Malaysian financial services professional and senior executive with extensive expertise in Islamic investment, fund management, and Shariah-compliant financial products. He currently serves as the Chief Executive Officer of PHB Asset Management Berhad, a wholly owned subsidiary of Pelaburan Hartanah Berhad (PHB).
With over three decades of industry experience, Zulkifli’s career spans the management and promotion of equities and fixed-income portfolios, exchange-traded funds, and Islamic alternative investment structures, including waqf-based products, structured notes, and Sustainable and Responsible Investment (SRI) instruments.

He holds a Bachelor of Science in Marketing Management from Syracuse University, New York, United States.
Leadership Experience in Waqf and Islamic Investment
Zulkifli has played a notable role in advancing the integration of waqf principles within contemporary

Zulkifli has played a notable role in advancing the integration of waqf principles within contemporary investment frameworks. In 2021, during his tenure with Kenanga Investor Berhad, he led the development of Kenanga Waqf Al-Ihsan Fund in collaboration with Yayasan Waqaf Malaysia.
This Shariah-compliant, open-ended investment fund channels waqf contributions into diversified portfolios comprising equities, sukuk, Islamic deposits, and money-market instruments. Returns generated from the waqf component are channelled toward social impact areas such as education, healthcare, economic empowerment, and environmental initiatives—aligning with waqf’s enduring philanthropic and socio-economic purpose.

This initiative reinforces the evolution of waqf from a traditional charitable endowment into a modern instrument for sustainable social finance, bridging philanthropic intent with responsible Shariah-compliant investment growth.

Professional Highlights
Current Position: Chief Executive Officer, PHB Asset Management Berhad
Industry Experience: Over 30 years in Islamic investment and fund management

Career Milestones: Former CEO of Kenanga Islamic Investors Berhad, with a track record of senior leadership positions across notable fund management firms. Including i VCAP and Eastspring Al Wara’
Academic Background: Bachelor of Science (Marketing Management), Syracuse University, New York
Contribution to Waqf Investment: Provided leadership in the introduction of the Kenanga Waqf Al Ihsan Fund, one of Malaysia’s notable waqf-linked investment initiatives.

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