Expanding the Virtuous Cycle of Benevolence through Cash-Waqf-Linked-Sukuk

With the success of such experiments, the realization that Islamic social funds can play a crucial role in meeting development finance needs of the economy will continue to grow. And simultaneously, we can look forward to a continuous expansion in the virtuous circle of benevolence. In a blog based on my presentation at the International…

Dynamics of Hajj Fund Management: Some Observations

It is now over a decade-and-half since I wrote a piece on the subject of financing of hajj in the monthly magazine published by the Makkah-based Muslim World League. The piece was in response to an on-going controversy in India over the issue of provision of government subsidy to Hajj pilgrims from India. It appeared…

Financial and Shariah Analysis of Hajj-Related Services

This paper co-authored with Dr Abdul Azim Islahi was first published in the The Muslim World League Journal,  Makkah Mukarramah in March 2003 (Vol. 31, No. 1, pp. 22-27). I reproduce this here, since I intend to follow-up with further discussion on the dynamics of Hajj Fund Management. This was triggered by my participation in the first…