The Role of Islamic Finance & Waqf in Healthcare

Awqaf SA & Its Role: Introduction Zeinoul Abedien Cajee CA(SA)

info@awqafsa.org.za

Awqaf SA

• Home grown Community Trust /NGO

• Owned and operated by Community

• Council of Mutawallees

• Shariah Based

• Commenced in 2001 with steady growth

• Current Waqf Funds Invested R30m

• Made up of mainly small waqf donors – broad based

Awqaf SA

Council of Mutawallees

Executive Management

Board

Jhb Office CT Office PretoriaDurban

Founders Council

Advisors/ Legal/ Shariah

AuditorsCorporate

Governance

Strategic Planning

Management Committees & Clusters

Support

Human Capital

IT & Social Media

Administration & Finance

Research & Academia

Operational

Marketing

Investments

Funding & Grants

Projects & Events

Strategic

Operational Strategic Planning

Corporate Affairs & Governance

Performance Monitoring &

Evaluation

Awqaf SA - Mission

To popularise, mobilise, create, develop, and manage waqf and charitable endowment funds and assets;

to initiate and/or support worthwhile sustainable humanitarian, community development, and poverty alleviation projects and programmes

mobilisation & engagement of human resources/ ambassadors for voluntary community service

Awqaf SA - Vision

to be the leading civil society waqf institution in Southern Africa

having an exemplary financial and human capital asset base

providing cutting-edge value-adding initiatives and services to empower people and communities

towards the establishment of Social Justice,

and excelling in all that we do with the highest standards of ethics and integrity.

Community Development SectorsHolistic

Healthcare / Darushifa Education Environment Social Cohesion Youth Leadership Masjid / Islamic Centres / Imam Development Jobs & Skills Development Microfinance/ SME Development Institutional Development / Research Arts & Culture

Awqaf SA Role in Healthcare: Darushifa

Cataract Operations

Health Screening

Comprehensive care for the aged including Home based care; frail care; assisted living

Healthcare Funding Models

Al Kadi Hospital (Durban): Waqf (1/3) & Private sector shareholders + Ijara Leasing Combination of Subsidised / Market fee

Nizamia Masjid Day Clinic: Primary Health 100% private waqf, operated by government / Free public service

Waqf An Nur: Malaysia: 100% Waqf / Nominal fee

Mobile Clinics: Islamic Medical Association

Challenges of Awqaf Sector –Darushifa / Healthcare

Financing infrastructure

Asset rich – cash strapped

Mass mobilisation of Donor Waqf Funds for the funding of the provision of healthcare services

General hospitals

Special Hospitals (womens, childrens, mental)

Elders Homes / Frailcare / Rehab Centres

Hospice

Opportunities for the Islamic Finance Sector in South Africa

Sukuk/ Waqf Infrastructure financing

Waqf / Zakah subsidisation

Ijara/ Musharakah Asset Financing

Equity financing

Build Operate Transfer (BOT)

Thank You