(MENAFN- The Peninsula) QNA
Doha: The General Administration of Endowments at Ministry of Awqaf and Islamic Affairs announced yesterday that it intends to launch a group of new endowments during 2022, covering various societal areas.
General Administration of Endowments Director-General Sheikh Dr. Khalid bin Mohammed Al Thani said that the administration as part of its endeavour to establish new endowments covering different societal areas will launch a series of endowments during its plan for the current year.
The first of these endowments is the 'Waqaf Endowments', an innovative endowment idea in its sustainability and coverage of various areas that need support, he noted. This endowment falls under the projects of the endowments fund for righteousness and piety.
It is that the original endowment proceeds be allocated to be endowed each year on a new endowment needed by the community, and thus a new endowment will be established from this endowment every year.
To clarify the idea of an endowment, someone who will endow a sum of money or real estate with this condition, will spend the proceeds of his endowment in the first year to establish a new endowment in the endowment fund to serve the Qur'an and Sunnah.
In the following year, the proceeds of his endowment will be spent on the Qur'an and Sunnah, and also will be established from the original endowment a new endowment for health care and in the following year the proceeds of this endowment will be spent on the endowment bank for the service of the Qur'an and Sunnah as well as the endowment bank for health care, and a new endowment will arise from the original endowment, and thus, an ongoing charity and diversity in the areas of goodness and giving continues for years.
The General Administration of Endowments at the Ministry of Endowments and Islamic Affairs is the concerned authority supervising endowments in the country.
One of its tasks is to manage and invest endowments funds and dispose of them on an economic basis in accordance with Sharia regulations to develop and preserve them and spend them according to the conditions of endowers.
MENAFN11012022000063011010ID1103519349
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.