Why You Should Contribute to Projects Like Satakanya

It appears to be a “perfect” project. The proposed intervention in Satakanya village has all the ingredients of success. One, it is a small village of just 80 odd families (resource need for the intervention – human and financial – is modest). Two, all of them are extremely poor (no Shariah issue regarding their eligibility…

A Sadaqa-Funded Islamic CDD

This Ramadhan we seek transformation of a tiny impoverished village in India through a sadaqa-funded Islamic Community-Driven-Development initiative. This is an initiative in one of the poorest parts of the planet. Village Satakanya is located in the state of Odisha in India. Click Here for a Socioeconomic Profile of Satakanya Village Target: Transformation of the entire population…

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…

Zakat Research: Some Empirical Findings

There is a growing body of theoretical and empirical research in the field of Islamic social finance in general and zakat in particular. In these blogs I seek to highlight some useful findings from such research. Below, three research papers in the field of zakat have been reviewed and their major findings highlighted. Norazlina Abd….

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 the public, private and voluntary sectors. Notwithstanding this diversity, the fact remains that the sector must be regulated, though the regulatory principles should be flexible…

Do Muslim Poor Self-Exclude Them from the Financial System for Reasons of Faith?

In a 2007 study “Islamic Microfinance Development: Challenges and Initiatives” undertaken by the Islamic Research and Training Institute, we observed that most of the member countries of the OIC with significant Muslim population had high and rising poverty levels. Just five of them – Indonesia, Bangladesh, Pakistan, Nigeria and Egypt accounted for over half a billion (528 million) of…

Awqaf: The Quiet Achiever

Hisham Dafterdar, CPA, PhD Chairman Awkaf Australia Ltd 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 of life ranging from education, healthcare to social services, art and recreation. Awqaf organizations are not part…

Understanding the Duties and Responsibilities of the Nazir

Dr Hisham Dafterdar Chairman Awkaf Australia Ltd 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 nazir and to his duties and responsibilities. The guiding principles for the task of the nazir are based…

World Zakat Forum 2017

World Zakat Forum 2017: Strengthening the Role of Zakat as a Global Instrument to Eradicate Poverty The 5th International Conference of Zakat, which focuses on strengthening the role of zakat as a global instrument to eradicate poverty, was held in Jakarta on 15th-16th March 2017. This conference hosted by the World Zakat Forum in collaboration with…

Awqaf-Private Sector Partnership

Hisham Dafterdar, CPA, PhD Chairperson Awqaf Australia Ltd 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 objective of achieving equitable redistribution of wealth and income. As an act of piety, awqaf provides a…

Launch of Sadaqa Initiative

Today the World Zakat Forum at Jakarta is coming to a close. On this occasion I have an important announcement to make. Today we are launching the Sadaqa Initiative at http://www.sadaqa.in. It involves setting up a Sadaqa Academy that will offer certification programs for zakat, waqf and other Islamic social finance professionals. The certified amil…