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MOU for Diploma in Waqf Management in Malaysia

The International Institute of Islamic Waqf [IIIW]  signed a partnership and cooperation agreement with the Islamic Science University of Malaysia [USIM], on 5 October 2012 on the sidelines of the annual  Conference on Islam and Higher Education, and in the presence of several heads of Arab and Malaysian universities. The aim of the Convention is to promote cooperation and the establishment of a Diploma in  Waqf Management for   the staff of  waqf /  endowment foundations and charities. The diploma is targeted at , workers in the waqf/endowment  and charity sector in the Arab and Muslim world. The agreement was signed by USIM   ( the State University first established by the Malaysian government in the early twentieth century,  located in the Malaysian capital Kuala Lumpur )  by the university president Tan Sri Datu Prof. Dr. Abdul Shakoor Haj Hussein, and the adviser of the International Institute of Islamic Waqf, Dr. Sami Salahat. The aim to is to create diploma  for ten specialized training courses in the field of management and strategic planning, investment and Islamic finance,  waqf laws & regulations,  and to look at the idiosyncratic curriculum choices in cases of public Awqaf, marketing and public relations.. Dr  Sami Salahat who signed the agreement on behalf of the Institute, said the Convention is the true entrance to involve business foundations into the correct scientific method,  and coordination with the Islamic universities scattered throughout the Arab and Muslim for the purpose of involving them in the waqf/ endowment, and work to coordinate ...

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“Awqaf played a major role in the birth of the modern university”

The theme chosen for the 3rd ICIHE is “The Role of Awqaf (“Endowment”) in the Development of Islamic Higher Education: the Past, the Present, and Future Prospects.” It is a follow-up to the theme of the 2nd ICIHE “The Empowerment of Muslim Communities in Private Higher Education.” Although the issue of the importance of awqaf to Muslim higher education was raised during the 2nd ICIHE, it was not then sufficiently discussed, since it was not the main objective of that conference. Accordingly, in order to do full justice to this very significant subject of Muslim concern, the 3rd ICIHE is to be devoted entirely to discussions of awqaf in its specific relation to the development of Muslim higher education.   The greater part of traditional Muslim education at all levels, including the tertiary, owes its origin, development, and progress to the awqaf institution. The famous Al-Azhar University in Cairo, founded in 970 CE, is an excellent example of an awqaf-funded Muslim higher education institution that was later to serve as a model for many private Western universities. The first degree-granting university in the world, the University of al-Qarawiyyin in Fes, Morocco, founded in 245 AH/859 CE by a woman, Fatimah Fihriyyah, was similarly financed by its waqf revenues. In short, awqaf played a central role in the birth of the modern university.   It is extremely important for the contemporary Muslim ummah to revive the best of past Islamic traditions in envisioning and realizing the central role of awqaf in ...

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“Awqaf & Higher Education” Conference in Malaysia

http://www.iais.org.my/e/events/upcoming-events/369-3rd-international-conference-on-islam-and-higher-education-3rd-icihe.html   3rd International Conference on Islam and Higher Education (3rd ICIHE) Sunday, 30 September 2012 08:30   Theme: The Role of Awqaf in the Development of Islamic Higher Education: the Past, the Present, and Future Prospects Dates: 30th September – 2nd October 2012 Venue: Pahang State Foundation Complex, Kuantan, Malaysia. Co-organisers: IAIS Malaysia, Pahang State Foundation, and IKIP International College.    Introduction It is now for the third time in three consecutive years that an international conference on Islam and higher education (ICIHE) has been held in Malaysia. Now that the 3rd ICIHE is currently in progress, we may proudly claim that the idea of having a series of ICIHEs, each dealing with a specific theme pertaining to contemporary Muslim higher education, that will last for years to come has become a reality. This series of ICIHEs owes its origin and development to the close and steady collaboration between IAIS Malaysia, the Pahang State Foundation, and IKIP International College, which have worked hard to make this series a reality. Undoubtedly, however, it is the personal interest and commitment of Dato’ Seri Diraja (Dr) Adnan Yaakob, the Menteri Besar of Pahang, who is also the Chairman, Pahang State Foundation to the development of Muslim higher education among the ummah, and the generosity of the Foundation that have made this series possible.   The theme chosen for the 3rd ICIHE is “The Role of Awqaf (“Endowment”) in the Development of Islamic Higher Education: the Past, the Present, and Future Prospects.” It ...

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Egypt Islamic finance plans include boosting waqf

By Reuters Cairo The Freedom and Justice Party, the parliamentary arm of Egypt’s Muslim Brotherhood, aims to develop the practice of waqf or religious endowments as part of its plans to expand the use of Islamic finance, a party official said. In waqf, people contribute a portion of their wealth, in cash or other assets, to sharia-compliant and charitable projects such as mosques and schools. But the management of such endowments in Egypt has been widely criticized as inefficient. Ahmed al-Najjar, a member of the FJP’s economic committee, said in a telephone interview this week that waqf endowments (awqaf) in the country totaled about half a trillion Egyptian pounds ($82 billion), but the yield on them was very low – according to a report by the Ministry of Religious Endowments, it is about 1.5 billion pounds annually, he said. One problem is that managers of a waqf often lack financial expertise, in contrast to countries such as Turkey and Malaysia. The solution may be to encourage the hiring of experienced financial managers for awqaf, Najjar said. Another proposal under consideration by the FJP is to encourage the formation of awqaf not through a contribution from a single wealthy donor, but through multiple small subscriptions to a sukuk (Islamic bond) offered publicly. The proceeds of the sukuk could then be used to purchase waqf assets. This would expand the number of people involved in awqaf and give managers more flexibility to invest endowment money, Najjar said. Courtesy: http://english.alarabiya.net/articles/2012/07/24/228096.html

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Challenges for the new Minister of Awqaf

Mustafa Salama / July 29, 2012 / Regardless of the exact role the ministry is to play; the current role it maintains is negative and should be structurally adjusted.  The new Minister of Endowments or Awqaf has been named; Dr. Mohamed Yusri, who also heads the Committee of Rights and Reform, an Islamic advocacy organisation which includes many different Islamic organisations and factions in Egypt including The Muslim Brotherhood, The Salafi Dawa and others. Dr. Yusri has contributed to the founding and management of several other institutions, and, furthermore, holds a Ph.D in Sharia and another in engineering. Dr. Yusri, is also known to be a good mediator between the Muslim Brotherhood and Salafis, an eloquent speaker who lost in the parliamentary elections to a younger revolutionary candidate. Moreover, on a smaller note; if the new Prime Minister has annoyed some by sporting a small trimmed beard, Dr Yusri, the first minister announced, champions a huge beard. Under Mubarak, the Ministry of Awqaf was another ugly face of the regime. Often used as a mouth piece to propagate its corrupt Islamic discourses which did not challenge authority and demonised Islamic rivals of the state. For quite some time, all that was heard from Zakzouk, the minister of awqaf under Mubrarak were rants about how niqab is not part of Islam or pushing for the controversial one athan (call to prayer) imitative, and banning of private sermons. Nothing was announced about anything directly related to Awqaf . So what is Awqaf ...

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