Awqaf registers 58,988 shares as new endowment investment

In Doha, Qatar, the General Directorate of Endowments at the Ministry of Awqaf and Islamic Affairs has added 58,988 shares to an investment endowment, donated under the supervision of the directorate for the "Waqf Al-Wuqoof" initiative. This marks the first donation from this benefactor, highlighting increased awareness of endowments and diverse charitable assets.

Endowed shares are a modern investment vehicle where the shares remain as a dedicated endowment asset, with returns directed to charitable purposes based on the donor's conditions. This preserves the principal while ensuring long-term benefits. Mohammed Abdullah Al Harami, director of the Investment Department, noted the contribution's demonstration of the variety of investment instruments in endowment systems.

Income from financial assets can support various endowment funds and charitable purposes, aligning with donors' stipulations. The Investment Department creates plans to achieve these objectives and grow endowment assets, while ensuring Shariah-compliant and professional management of portfolios. These efforts support the Ministry's strategic goals, including a sustainable endowment and zakat system, higher returns, and maximized social benefits in line with Qatar National Vision 2030.

Endowment investment aims to balance preserving the original asset and growing returns, allowing endowed assets to continue generating resources for specified donor purposes. The Waqf Fund for Righteousness and Piety supports charitable and philanthropic activities, directing returns according to donors' conditions. The Waqf Al-Wuqoof initiative reinvests endowment returns in establishing new endowments, growing the asset base year after year and transforming returns into a source for new income-generating assets. This sustainable model ensures the continuation of endowment benefits across generations.