The Sustainable Development Goals from a Shariah Perspective

The Sustainable Development Goals framework reflects the consensus among the global community of policy makers on major challenges confronting humanity. It sets the direction in which all resources will be channelized over the next decade-and-half with clear targets to be achieved by the year 2030. Adopted by all United Nations Member States in 2015, the…

Awqaf Volunteers: The Intriguing Intangibles

Hisham Dafterdar, CPA, PhD Chairman, Awkaf Australia Ltd Awqaf is a voluntary sector built on charitable donation of assets and on mostly voluntary contribution of services. In awqaf, people volunteer for different reasons. There are people who volunteer because they see it as a way of getting Allah’s blessings, and others because they are passionate…

How Awqaf can Incentivize Private Investment

A waqf is a social institution. It is central to the Islamic ecosystem. As an act of piety, a waqf provides connect between religion and economic development. Awqaf initiatives dovetail into major sectors of the economy – commercial and developmental – including real estate, education, healthcare, social welfare, food and water security and climate management.…

Awqaf in the Fintech Age

By Dr. Hisham Dafterdar This is an era where technological change is happening faster than ever. The speed at which high-tech development is taking place has given rise to very unnerving disruptive changes. The digital world is just too complex and convoluted. We are driven by things we can’t touch and things we can’t control.…

In Awqaf We Trust: Management of Family Wealth

Some of the earliest awqaf in Islam were founded for the benefit of the poor members of the family.  On advice of the Prophet (pbuh), most of the Prophet’s companions (sahaba), notably, Umar Ibn Khattab and Abu Talha Al Ansari, established awqaf for the benefit of their poor relatives by following the Prophet's advice to…

Awqaf Nazir – Glad to be of Service

Muslims are generous with their money, and that is because they have faith. Donating is at the forefront of Muslims consciousness albeit not spending much time to understand the social issues or to assess the pressing needs before they commit money and property. They only hope that their donation will make a difference; forever. Creating…

Promises of Blockchain for Awqaf

An international forum on Waqf and Blockchain with the theme "harnessing the potential of blockchain technology for global waqf development" is being held in Kuala Lumpur tomorrow. Jointly organized by the International Centre for Waqf Research of the International Islamic University Malaysia and FINTERRA, a start-up in the field of FinTech, this event promises to…

Enhancing the Idea of Corporate Waqf with Initial Waqf-Share Offer

The idea of corporate waqf has recently been enhanced further with an Initial Waqf-Share Offer. With an innovation of great value, the Waqaf An-Nur Corporation (WAN Corp)- the entity set up by Johor Corporation, a public sector conglomerate to manage the assets and shares it endows - has hit the market with an offer of…

Awqaf Governance – Thinking Inside the Box

Hisham Dafterdar, CPA, PhD Chairman, Awkaf Australia Ltd   Good governance is a major issue facing awqaf organisations. Despite the sector’s awesome size, awqaf remains one of the most misunderstood areas of the Islamic financial system. Because of awqaf’s private and usually esoteric nature, and lack of transparency how awqaf are governed and regulated, awqaf…

Awqaf Brand – Business with Compassion

Hisham Dafterdar, CPA, PhD Chairman, Awkaf Australia Ltd A brand is more than just a name, a trademark, a logo, a symbol, or any other visual identity that distinguishes a product or service from others.  It is the value the brand stands for, the benefits it offers, and the overall impression we gain when dealing with…