Please note that in response to the COVID-19 pandemic situation, many meetings and conferences have been postponed or are taking place virtually. Some locations have resumed limited in-person meetings which comply with local public health instructions for social distancing. Participants will receive detailed information about attending the meeting from the organizer.

Awqaf (singular waqf, Islamic charitable endowments) are considered a form of Islamic social finance. They have played a critical role in Islamic civilization and provide a powerful tool to fill the SDGs financing gap, especially given their strong resource mobilization potential. Towards this end, the Islamic Development Bank (IsDB)’s Awqaf Properties Investment Fund (APIF) was established in 2001 to promote the role of awqaf as a tool of development, via using modes of Islamic finance to support the development, renovation and purchase of properties to be used as awqaf. APIF is an impact investment fund providing both financial and social-impact returns to investors. Through APIF, IsDB has succeeded in operationalizing Awqaf financing. It has succeeded in taking the endowments model (practiced both in the traditional Muslim World as well as in the modern West – e.g. in universities) and transforming this model into a tool of development policy. In this way, IsDB has positioned Awqaf financing at the frontier of development practice. The aim of the current seminar is to introduce APIF specifically and the awqaf model more generally, including the major benefits and challenges of awqaf as a development model as well as relevant case studies.
Virtual
Beirut, Lebanon
Starts Aug 3, 2021 09:00
Ends Aug 3, 2021 19:00
Asia/Riyadh