Cash Waqf and corporate Waqf : new financial products

Instruction Language

English

Country

United Arab Emirates

English Abstract

-Recognising Waqf as an important institution in the Islamic financial system.

-Knowing the Sharia'a and legal perspectives of cash and corporate Waqf.

-Understanding the administration and governance of cash and corporate Waqf.

-Gaining insight on how to establish a corporate Waqf.

-Proposing a framework for corporate Waqf Bank through corporate social.

-Responsibility (CSR).

Waqf is a financial charitable institution established by withholding one’s property to eternally spend its revenue on fulfilling the various needs in a given society depending on the choice and condition made by the founder.

Through its financial support it manages to provide varieties of goods and services needed in society such as sheltering and feeding the poor, providing education and promoting health care, creating jobs for the majority, activating business, constructing highways, promoting links between countries and providing basic infrastructure.

Waqf is not a new concept, however its recent emergence in its movable form of cash and corporate Waqf, and the opportunities this presents, have caught the attention of financial institutions and corporates alike.

Program Duration

24

Objectives

- -An overview of the Sharia'a aspect of the institution of Waqf. -Administration, governance and role of Waqf. -Emergence of cash Waqf and corporate Waqf as a new financial product. -Types, administration and governance of cash and corporate Waqf. -Current establishment of cash Waqf and corporate Waqf. -How to create your own cash Waqf and corporate Waqf.

Field work

This course will benefit any representative of financial institutions, banks, corporate, government departments who wishes to understand more about the institution of Waqf and wishes to create corporate Waqf as part of their CSR for the benefit of society. Specifically : -Islamic bankers and product structurers. -Boards and shareholders of corporations. -Finance and CSR representatives of corporates. -Financial product development and risk managers. -Lawyers, accountants and consultants. -Regulators. -Investment and asset managers.

Certificate / Course Program

Day 1 : -Session one : current scenario and the importance of social financial sector. -Session two : Sharia'a and legal frameworks of the institution of Waqf. -Session three : administration, governance and role of Waqf. -Session four : socio-economic role of Waqf-historical overview. Day 2 : -Session one : current state of Waqf properties. -Session two : revival of immovable Waqf properties through innovative financial products-case studies. -Session three : movable Waqf-a new innovation. -Session four : cash Waqf models-case studies. Day 3 : -Session one : overview of corporate Waqf. -Case study I : family type Corporate Waqf : Sabanci Vakif (SV) in Turkey. -Case study II : family type Corporate Waqf : Hamdard Waqf (HW) in India. -Case study III : government type Corporate Waqf : al-Nur Waqf (NW) in Malaysia. -Case study IV : microfinance model through cash Waqf (a proposal). -Course conclusion.

No. of Pages

4

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Islam
• Social responsibility
• Finance
• Scientific innovations
• Islamic World
• Corporations
• Religious aspects
• Waqf
• Religious institutions
• Financial services industry

Data Type

Training Courses

Record ID

BIM-723226