Integrating Waqf and Financial Sector by Habib Ahmed

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Financing from FIs Like any other enterprise, waqf assets can be developed by investments Example: Awqaf Properties Investment Fund An entity financing the development of awqaf properties worldwide Came up with innovative financing mechanism (Built- Operate-Transfer) 16
Waqf Financing Through Sukuk Cannot sell waqf asset—cannot issue ijarah sukuk Sukuk al Intifa’a—Zamzam Towers in Makkah Waqf land leased land to Binladin Group for 28 years on BOT to build complex (4 towers, mall & hotel) Binladen leased the project to Munshaat Real Estate Projects for 28 years Manshaat raised $390 million issuing sukuk al intifaa (time-share bond) for 24 years by selling usufruct rights 17
Page 1 and 2: Habib Ahmed Durham University
Page 3 and 4: Introduction (1) Historically, awq
Page 5 and 6: Agenda Introduction Waqf Histori
Page 7 and 8: Waqf—Important features Good obj
Page 9 and 10: Waqf—Historical Experience (2) A
Page 11 and 12: Awqaf during Contemporary Times—S
Page 15: Waqf and Demand for Services from t
Page 19 and 20: Waqf Management Only one dishonest
Page 21 and 22: Corporate Trust Management Organiza
Page 23 and 24: Services of Mutawally Review
Page 27 and 28: Waqf-based MFIs Historically, waqf
Page 29 and 30: W-MFI: Special features of Balance
Page 31 and 32: Risk-reducing Reserves Takaful r
Page 33 and 34: Waqf-based Takaful Model Share of S
Page 35 and 36: Conclusion Current status of waqf

Integrating Waqf and Financial Sector by Habib Ahmed

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