Awqaf’s Un-calculated Risks

Awqaf organisations, notwithstanding their religious and social objectives, in order to fulfill and promote their social mission, often find it necessary to expand their revenue base by actively engaging in commercial activities and investment. This means that in addition to the sector-specific risk determinants, awqaf are exposed to much of the same risks that affect…

How Awqaf can Incentivize Private Investment

A waqf is a social institution. It is central to the Islamic ecosystem. As an act of piety, a waqf provides connect between religion and economic development. Awqaf initiatives dovetail into major sectors of the economy – commercial and developmental – including real estate, education, healthcare, social welfare, food and water security and climate management.…

Awqaf Governance – Thinking Inside the Box

Hisham Dafterdar, CPA, PhD Chairman, Awkaf Australia Ltd   Good governance is a major issue facing awqaf organisations. Despite the sector’s awesome size, awqaf remains one of the most misunderstood areas of the Islamic financial system. Because of awqaf’s private and usually esoteric nature, and lack of transparency how awqaf are governed and regulated, awqaf…

Understanding the Duties and Responsibilities of the Nazir

Dr Hisham Dafterdar Chairman Awkaf Australia Ltd One of the important issues concerning awqaf is the appointment of an administrator (nazir or mutawalli) to manage the waqf. Shariah provides a principles-based criteria to the appointment of the nazir and to his duties and responsibilities. The guiding principles for the task of the nazir are based…