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International Conference on Islamic Banking & Finance in Mauritius
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International Conference onIslamic Microfinance in Mauritius
CENTER OF ISLAMIC BANKING & ECNOMICS
Organized By :
Introduction
• Change & Transformation• Visionary• New Institutions• Concern about the present and future
Literal Meaning: Stop, contain, preserve,
Shari’ah Meaning:
• Stopping personal ownership of asset (Movable/immovable/cash)
• Transferring ownership of asset to Allah • Permanent, Irrevocable• Dedicating the usufruct to family / charity • For the Pleasure of Allah
Basic concepts
• Comprehensive• Nature of the Islamic Economy• Maqasid of the Shariah• Empowerment• Infaaq• Bir
Din-Faith
NafsSelf
“Aql-Intellect
NaslProsperity
MaalWealth
Maqasid of Shariah(Higher Objectives or Goals)
Waqf: In the Scheme of Islamic Charities
Types of Waqf
Waqf – its origins
• Quba• Qur’an• Hadith• Sahaba
Waqf – Brief history & What happened?
• Osmanli Empire, Turkey• North Africa, Al Andalusia • India, Malaysia, Singapore• Kuwait, Saudi Arabia, & Gulf states• Africa: Kenya, Zanzibar, South Africa• Mauritius
Amazing Waqfs
• Universities – Fez • Hospitals - Bimaristan• Fortresses, Army• Redemption: Household crockery depot• Cats, Old horses• Scholarship & Research• Environment• Water
Amazing Waqfs Today
• ?• ?• ?• ?• ?
WAQF : Importance and benefits
• Aspiring for rewards for the Hereafter• Gratitude to Allah• Spiritual Purification of the soul• Pleasure of Allah• Thawaab Jariyyah • Social Benefits• Financial Sustainability
Waqf: Revitalisation imperatives : Its importance & benefits
• Sustainable Income Stream • Community Development• Civil Society/ Community Empowerment• Muslim / Non Muslim• Donor passion• Sadaqah Jariyyah• Economy• Infrastructure development
Waqf: Revitalisation imperatives : Its importance & benefits
• Social Responsibility/ Encourage• Security • Long Term• Unique• Capital Base • Civil Society vs State• Flexible usage
Waqf: Revitalisation imperatives : Its importance & benefits
• Integration with Maqasid of Shariah • Visionary• Globalization, Privatisation vs Communitisation• Womens participation• Bequests/Wasiyyah • Voluntary / Mustahab• Sunnah
Waqf: Revitalisation imperatives : Its importance & benefits
• No fixed percentage• Economic Benefits• Future Planning/ Predictability• Islamic Civilization• Investments• Strategic interests• SA / Local Context
Waqf: Revitalisation imperatives : Its importance & benefits
• Sustainable Development• Legacy for the future• Islamic Gift Economy• Returning Wealth to Allah• Ibn Qudama
AWQAF SA : Chronology
• 1984 – IDB Jeddah Waqf Training• 2000 – Sanzaf Awqaf Zakah Seminars Dbn• 2000 – Murabitun Awqaf Zakah & Dinar Pta• Awqaf SA: 27 Ramadaan 1421/ 27 December
2000 • 2001-2011 Track record: 10 years
AWQAF SA: VISION
To become the leading civil society waqf institution that is focused on the empowerment of Muslim, poor, and disadvantaged communities
To empower communities
AWQAF SA: MISSION
• To popularise and develop the Waqf System • To create, mobilise, invest, manage, and administer Waqf
funds.• To initiate and fund worthwhile sustainable community
development and poverty eradication projects and programmes to benefit the poor, needy and designated beneficiaries
• To mobilise & meaningfully engage human resources for voluntary community service
• To encourage every Muslim/ah to become a waqif/ah.
AWQAF SA: Governance
• Awqaf SA is governed by a Council of Mutawallees and a Board of Management and Sub Committees. A Panel of Advisors and Consultants advise the organization on key issues. All individuals serve on a voluntary basis. The organization is also governed by a constitution and various legislation.
AWQAF SA: Structure
AWQAF SA: People
Mutawallees/Trustees Advisors Management/Committees Donors/ Waqifoon/ etc Service Providers Projects / Task Teams Committed Volunteers - Worker
Bees - Network Stakeholders
AWQAF SA: Key Operational Policies
• Cooperation, Partnerships & Working Unity
• Promotion of Self Reliance• Effective Corporate Governance • Holistic sustainable view of Community
Development• Being Proactive and Relevant• Learning Organization• Multi-generational
AWQAF SA: WAY FORWARD:
v i s i o nvision
• A Waqf Committee in Every province, Every city, Every town, Every village
• A Waqf building in every street• Every Muslim a waqif/ah• Charitable & Family Waqfs • Public, Community and Private waqfs
AWQAF SA: CONCLUSION
v i s i o nvision
• A very important pillar of Islamic Civilisation and Islamic Community Development
• Contribution to broader community/ humanity• Revival is imperative. Training/ Seminars/
Awareness/ • Critical success factors & implementation• Are you ready for the revival of a lost sunnah?
AWQAF SA:
It is invariably true that it is always a small group of committed people that bring about big changes…
“ Let there arise out of you a band of people…”
v i s i o nvision
Thank You
CENTER OF ISLAMIC BANKING & ECNOMICS
Head Office: 192- Ahmad Block, New Garden Town , Lahore, Pakistan
Ph: +92-42-35913096-8, 35858990, 38407850 Fax: +92 -42-35913056
E-mail : [email protected]: www.alhudacibe.com
