You know what would be great? It would be great if we could start up endowments (awqaaf) for Islamic projects. A waqf could be something like a house or a flat which is gifted to a mosque or an institution and which provides a steady stream of income from the rent thats generated. It doesn't need to be a house - it could be a service - just something to generate income.
The reason why i mention this is the slight annoyance that whenever an Islamic project needs to be run raising finances is a huge issue, and we have to go around, cap in hand, begging people to chip in. It would just be great.
I wonder if it would be allowed to have a sum of money which is invested in stocks as an endowment? The only thing is that if it weren't invested wisely, the money might all be lost.
Before you go, have a look at this important article written by a brother named Amir Butler here. Its relevant mainly to people in the UK where the legislation against incitement to religious hatred is current news because it discusses the negative effect it had for Muslims when it was made law down under.
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2 comments:
I beleif that Islamic Relief do have an awaqf programme running in the uk I can not remember how much you have to invest but do contact them. Also I remember Brother Yusuf Islam did have one a few years ago.
jazakallahu khair sr. Noora. Its interesting how IR are doing the waqf scheme. But i must admit i'm not sure how the whole thing works. Hopefully i'll get a chance to study the subject in a bit more depth in the next month or so with a friend of mine.
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