Risk Management for Awqaf: Some Thoughts
The awqaf ecosystem displays considerable variation across countries and regions. While awqaf is originally meant to be in the voluntary sector, the current situation shows diverse roles for stakeholders in …
Awqaf: The Quiet Achiever
The recent surge of interest in awqaf is due to the increasing awareness of the role of the waqf in social and economic development. Awqaf is omnipresent in all facets …
Understanding the Duties and Responsibilities of the Nazir in Waqf
One of the important issues concerning awqaf is the appointment of an administrator (nazir or mutawalli) to manage the waqf. Shariah provides a principles-based criteria to the appointment of the …
Awqaf-Private Sector Partnership
Awqaf is a faith-based economic sector accounting for a significant share of the Islamic financial system. The Islamic institutions of zakat and waqf are two socio-economic development models having the …
Awqaf Beneficiaries – Venerable or Vulnerable?
The waqf is a feature of Islamic civilization; and it’s not so much about the grand mosques that awe and inspire, or the magnificent shrines that amaze and impress. It’s …
A Model Orphanage in Kazakhstan
Ensuring a life of dignity for orphans is a very special act of piety, benevolence and kindness in Islam as in all religions. The holy Quran says: “Treat not the …
Developing a Governance Framework for Islamic Social Finance Institutions
February 12, 2015 An Islamic social finance institution is essentially a non-profit or charity organization that seeks to operationalize the concepts of waqf, zakah, sadaqah and qard hasan. It has …
Revisiting Islamic Philanthropy for Sustainable Opportunities Finance
2nd Yayasan Tun Ismail Berdafter Public Lecture on Islamic Finance at Kuala Lumpur Plan of Lecture: Opportunities Finance in Islam Institutions of Islamic Philanthropy 2.1. Institution of Zakat 2.2. Institution …
Plantation Waqf to Promote Education: Sale and Waqf Back
In a few earlier blogs I have highlighted cases where the concept of waqf has been used in an innovative manner, e.g. creation of a corporate waqf for provision of …
Corporate Waqf: Focusing on the Real Economy
Creative and innovative minds have experimented with the idea before. The Vehbi Koç Foundation (Vehbi Koç Vakfı) was endowed way back in 1969. It is perhaps the first documented case …