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Awqaf SA in Indonesia

Alhamdulillah Awqaf SA had a productive Round table discussion on establishing International core Principles for Waqf. It was motivating to see that Awqaf SA through the dedication and commitment of our ambassadors at all levels has built a sound Waqf Institution in South Africa that is respected internationally. Under the leadership of our Chair of Mutawallees and Chief Executive Officer, both past and present with the support of our partner organisations, Awqaf SA is a global leader in the Waqf Islamic Social Finance Sector. Let us reaffirm our commitment to Allah’s deen and duty towards the proliferation of Waqf for sustainable community development Insha’Allah. Mickaeel Collier – Surabaya, Indonesia

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“Islamic Economy Awards” to be Announced

The Dubai Chamber of Commerce & Industry and Dubai Islamic Economy Development Centre in partnership with Thomson Reuters are pleased to invite you to attend the Islamic Economy Award Ceremony which will be held at the Ritz Carlton, DIFC in Dubai on January 14th, 2015. The Islamic Economy Award was launched in 2013 under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and directed by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council. Now in its second year, the annual award recognises innovative world-class business initiatives and ideas that have contributed to the social and economic welfare of the Muslim population. The Award honours individuals and companies in the following categories: • Money and Finance • Media • Waqf and Endowments • Islamic Economy Knowledge Infrastructure • 2014 Lifetime Achievement Award • Food and Health • Hospitality and Tourism • SME Development • Islamic Arts

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10th W I E F Forum Recommends High Level Waqf Working Group

In the Closing Statement of the 10th World Islamic Economic Forum held in Dubai (28-30 October 2014)  several recommendations were made. http://10thwief.org/en/forum-materials/Final%20Statement%20updated.pdf.aspx   Amongst other recommendations made in its closing statement,  the Forum recommended the following regarding Waqf: The establishment of the WIEF-IDB International Working Group on Waqf  Development that acts as an information depository centre as well as a clearing house of information.   It is hoped that the above recommendation will be fully implemented and that the outcomes of such a working group will be tremendously beneficial to the local, regional, and global waqf sectors. This recommendation, incidentally, is a priority recommendation and tops the list of recommendations. … Great news for the waqf sector. Awqaf SA  welcomes the recommendation and looks forward to working closely with the WIEF-IB International Working Group.  

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Endowments Are A ‘SLEEPING Giant’ That Can Transform

The role of Islamic endowments need to be further streamlined and redefined to unlock their true potential, observed experts during a panel discussion on ‘Mobilising Capital from Waqf, Pension Funds and Unit Trusts’ at the the 10th World Islamic Economic Forum (WIEF), organised by the WIEF Foundation and the Dubai Chamber of Commerce & Industry. The role of Islamic endowments need to be further streamlined and redefined to unlock their true potential, observed experts during a panel discussion on ‘Mobilising Capital from Waqf, Pension Funds and Unit Trusts’ at the the 10th World Islamic Economic Forum (WIEF), organised by the WIEF Foundation and the Dubai Chamber of Commerce & Industry. Abdullah M. Al Fouzan, Founder and Chairman of The Investor for Securities Company in Saudi Arabia, said “endowments are a sleeping giant, and they are suffering from a state of negligence with annual returns at less than three per cent.” He called for tapping the true potential of endowments through a structured and concerted effort. Presenting the importance of pension funds and how they can contribute to the GDP, the moderator of the session, Prof. Talal Yassine, Managing Director of Crescent Wealth, Australia, said that while Muslims form 23 per cent of the world population, and global pension funds have assets at over US$27 trillion, Islamic pension funds account for only one per cent of the value. “There are only three pension funds from the Organisation of Islamic Cooperation (OIC) countries in the top 300 pension funds in the world. ...

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Awqaf SA presents at World Islamic Economic Forum, Dubai

Awqaf South Africa to present one of four papers at 10th World Islamic Economic Forum Foundation – Dubai, 29th October 2014 Awqaf South Africa founding CEO Zeinoul Abedien Cajee was selected to attend and present a paper at the 10th World Islamic Economic Forum Foundation (W I E F) taking place in Dubai. The meeting is held in conjunction with the Islamic Development Bank and takes place on Wednesday 29 October 2014. More than 40 attendees representing 16 countries have been invited as delegates to explore and discuss the potential for moving Waqf as a sustainable economic model on both a regional and global levels. Zeinoul Cajee will be one of the four invited Speakers who will provide brief presentations on their respective papers on Waqf at the Session. The sessions will take on the format of paper presentation, discussion and brainstorming of Waqf Products and Services. The Executive Director of the World Islamic Economic Forum Foundation, Ms. Mazwin Meor Ahmad said to Awqaf SA that “we are most privileged to have you participate at the Session and we thank you for your support and we look forward to welcoming you in Dubai.” Zeinoul’s presentation at the session will deal with the ‘Historical Development of Waqf and its Present Situation: Mechanisms and Models to Ensure Forward Movement at Regional and Global Levels.’

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