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…

Turning to Islamic Finance for Meeting Development Goals – III

I take pride in being from the academia. In the world of Islamic economics and finance, the sense of pride is more intense. I am a witness to how seminal articles, papers and books authored by scholars have given a shape to the Islamic financial services sector, unlike many other fields where theoretical work by…

Turning to Islamic Finance for Meeting Development Goals – II

The DEEP project was a trailblazer in many ways. The program was initiated at a time and in a region where two-third of population (according to World Bank estimates) was below the poverty line and not a single MFI was operating on a sustainable basis. With (a) the delivery of financial and promotional safety net…