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…