Waqf or wakf is an optional charitable donation made by Muslims as part of their faith. Some organizations are now focusing on the environment, like Wakf for Water.
The video is a bit slow to start and speaks to a somewhat unsophisticated audience, but it introduces an important concept of charity in Islam (sadaqah jariyah), and why Muslims should support “Waqf” –– for the environment’s sake. Or at the very least political stability.
According to the International Union for Conservation of Nature Waqf is an Islamic endowment, a model by which one makes a voluntary, permanent and irrevocable dedication of a portion of one’s wealth – in cash or kind, for a certain purpose for certain beneficiaries.
Once assets are set aside for Waqf, they can never be gifted, inherited or sold.
The idea here is that the capital remains intact, and the yield of investment is used for the beneficiaries. Hence the concept of sustainability is ensured.
Similar models of charity are put into practice in Judaism and fall under what the Jews call “tzedaka.”
The video above introduces the idea of a Waqf fund, a flexible and innovative financing mechanism targeting solving water problems in the Middle East region.
The concept of Waqf fund is similar to trust funds where the capital for the Waqf is invested and the returns on investments are utilized for activities related to conservation.
Sounds very similar to microfinance loans, now being put to use in Israel in areas from the environment to social good.
Now let’s see some action. Start a wakf for water, for organic food, for permaculture, for greener energy. And report back to us!
Author: Karin Kloosterman
Karin Kloosterman is an award-winning journalist and publisher that founded Green Prophet to unite a prosperous Middle East. She shows through her work that positive, inspiring dialogue creates action that impacts people, business and planet. She has published in thought-leading newspapers and magazines globally, owns an IoT tech chip patent, and is part of teams that build world-changing products to make agriculture and our planet more sustainable. Reach out directly to [email protected]
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