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Muslim Link is Ottawa Muslims' Online Community Newspaper. The site includes an up-to-date Events Listing and Business and Community Directory for Ottawa Muslims.
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Waqf is a religious endowment in Islamic law. A donor designates something to be used solely for the benefit of the poor and needy.
25
Aug
2011

Waqf: the lost rich Islamic heritage

Published in Islamic Finance

As a wave of change sweeps the Islamic world and Muslim countries are opening up to plurality and democracy, citizens of these countries now have the opportunity to play their role of a strong civil society. But for civil society to become sustainable, development in indigenous philanthropy is required.  The heavy reliance on foreign donors was never an effective solution to local society as it promoted an orientation to the needs and perspectives of the donor, rather than the community served. A heavy or exclusive reliance on government funding is worse as it comes with a heavy hidden tag price. Fee-for-services and other forms of income have also proven to be unsustainable.

Read full article
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