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Muscat: Imam Jabir Bin Zayd Waqf Establishment has celebrated yesterday the launch of “Waqf” (endowment) initiative. The event was held in the Supreme Court of Oman under the patronage of H.E Nasser bin Hamoud Al Kindi, Secretary General of the Royal Court Affairs. His Eminence Shaikh Ahmed bin Hamad Al Khalili, Sultanate’s Grand Mufti and Founder of Imam Jabir Bin Zayd Waqf Establishment attended the event. Aligned with the concept of religious endowment, the initiative will play an important role in bringing out the equality and development for the nation.
Waqf seeks to deliver a variety of projects that will be open for community participation. Its special features are that it is permanent and irrevocable while its benefits go from one generation to another. Therefore, the initiative aims at promoting social integration and cooperation for goodwill as well as strives to urge local organisations and individuals to contribute to philanthropic projects.
It also seeks to provide the public with a background on the establishment, its services and the Waqf projects. Furthermore, the initiative will familiarise the public with ways of participation. The planned model of the initiative will set an example for other organisations that follow the concept of endowment. Waqf initiative follows a framework that utilises the fundamentals of asset management to maintain value and money spent within the institutions.
The establishment’s targets are to serve the field of human sciences, support educational institutions and centres as well as help students in need. It will provide services to patients suffering from serious diseases and social support to people facing difficult life conditions. Furthermore, the establishment will invest in real estate, industry, commerce, agriculture and other fields that are aligned with the tenets of Islamic Shari’a.
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