Posted on 11/17/2002 7:51:18 PM PST by 1bigdictator
Direct Quotes: Trust to launch dedicated endowment for Al Aqsa Sharjah |By Ashfaq Ahmed | 17-11-2002 Print friendly format | Email to Friend
Al Turaifi The Awqaf General Trust in Sharjah is working on a plan to launch the first Waqf (endowment) project to ensure continuous flow of funds for Al Aqsa Mosque and the suffering Palestinians.
The dedicated endowment fund project for Al Aqsa is being launched following the directions of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah.
The Trust, which was established in 1996 by an Emiri decree by Dr Sheikh Sultan, is an independent government authority in the emirate.
Apart from running a number of endowment projects, it is also working on comprehensive plans to revive the Sunnah of endowment on modern Islamic lines in the Arab world.
In addition to launching Waqf shares, it is actively cooperating with other endowment establishments in the Muslim world to launch joint projects and to regularise these through legislation.
Jamal Salim Al Turaifi, who has been entrusted with the task of running the Awqaf General Trust in Sharjah, reveals in an interview with Gulf News the Trust's efforts in reviving the concept of Waqf, which is diminishing in the Muslim world.
Al Turaifi, who obtained his degree in business administration from the U.S., has taken up the position of General Manager at the Trust and is playing a pivotal role in managing the Waqf projects.
He spoke to Gulf News about the Trust's current activities and future plans.
When will the Sharjah Awqaf General Trust (AGT) launch the Waqf project for Al Aqsa and Palestinians? The Trust is working on a plan to launch the dedicated Waqf project for Al Aqsa and to help suffering Palestinians in the near future.
The main objective of introducing this project is to generate funds for Al Aqsa and to have a permanent source of funds for the suffering Palestinians. The details of the project will be announced once it is finalised.
How does the AGT operate? The aim of setting up this establishment was to launch and support endowment projects, and to distribute their income for various purposes according to Islamic principles.
The Trust runs a number of Awqaf projects, including buildings, stores, villas, commercial centres and low cost houses. These Waqf projects are run as per the most sophisticated methods in order to achieve the highest revenues possible, to be spent on different Islamic charitable projects.
What steps are being taken to develop the endowment fund on modern and scientific lines? The Sunnah of endowment is being developed on modern and scientific lines to cope with current, ever-changing requirements of the Muslim world, and to chalk out strategies to encourage the general public to participate in the endowment projects.
Unlike the traditional methods, we have also adopted the scientific means to run the Waqf projects and employ a qualified cadre to carry out the task, to gain the maximum benefit. Waqf shares
We employ direct and indirect means to announce our projects in the media.
We also organise conferences for this purpose and sponsor programmes in order to make people aware of the Waqf projects and educate them on how they can participate in these projects. We have also launched Waqf shares.
What are Waqf shares and how can people invest in these shares? The AGT has launched Waqf shares with nominal prices of Dh100 per share to run the trust on modern Islamic lines.
Both UAE nationals and expatriates can buy these shares and so far we have received a very good response since its launch last year.
How would you use the funds generated from Waqf shares? Revenues generated from the Waqf shares are allocated to services in eight different areas and projects, including publication of the Holy Quran, help for the disabled and the poor; construction and running of mosques and rest houses for the elderly; Waqf investments; Haj and pilgrim services and projects for new Muslims.
Waqf shares are available at the AGT office in Sharjah and in all the branches of Dubai Islamic Bank in the UAE.
Although I say so myself, the pioneer project of endowment shares launched by Sharjah Awqaf General Trust should be studied and followed by other endowment establishments to enhance the scope of investment in endowment projects in order to have better income resources.
The need for pioneering Islamic establishments to revive the role of endowment projects and work on a clear vision for developing Muslim society is very important.
What is the role of general people to develop endowment projects? Supporting endowment projects is not only the concern of the government, but is also the responsibility of all Muslims. All of them should contribute to such endowment projects to achieve social and economic development in the Muslim world.
Our endowment establishment is operating in a practical manner through projects based on the modern economy, taking into consideration all changes and developments in life.
Mutual cooperation and a sense of solidarity distinguish Muslim society from others. But in the recent past, endowment project activities have been reduced due to the wrong perception of some people, who thought it was solely the government's responsibility to set up endowment projects.
Such people started concentrating on individual charitable projects, which failed to deal with the collective issues that include all members of Muslim society.
Instead, people should participate in major endowment projects to benefit all the needy members of society, and to launch social, education and health projects for them.
How can the endowment projects be promoted among people? There was a need for a pioneering Islamic establishment to revive the role of endowment projects and to work on a clear vision for developing Muslim society.
Such an establishment has already been formed in the UAE following the directives of President His Highness Sheikh Zayed bin Sultan Al Nahyan, and is playing its role very effectively.
We praise the role of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, for his continuous support for endowment projects as he donates land and property to enable Sharjah Awqaf work efficiently.
What are the future plans of the Awqaf General Trust? The Trust is planning to develop more Waqf projects both inside and outside the country in a bid to increase its assets.
We also plan to invest Waqf finances in different viable economic projects in order to generate more funds to ease the suffering of poor people.
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