Helping the needy

Sharjah-based trust launches endowment fund to ensure continuous flow of money for charity


Charity begins at home, it is said. And what better time than Ramadan to make a contribution that goes into the well being of the destitute and the needy!

According to the third pillar of Islam - zakat - all believers who earn a living or have inherited wealth should give zakat (obligatory charity). This is expected according to the Holy Quran and the Hadithic literature (Hadithic literature is the collection of statements and deeds attributed to Prophet Mohammed (PBUH), and it is the second important source for Muslims apart from the Holy Quran). Believers must give to charity 2.5 per cent to 5.0 per cent of their total income every year.

Besides this obligatory charity, the believers are also expected to give sadaqa (optional charity) to the poor and homeless, and weaker members of society.

Taking a step forward, the Awqaf General Trust (AGT) in Sharjah has launched the Awqaf Shares Scheme, called the Waqf (endowment) shares, to ensure continuous flow of funds leading to not simply a one-time sadaqa, but an ever-building one.

"It is a way to achieve the sadaqa jaria (continuous charity)," told Jamal Salim Al Turaifi, the Director General of the trust.

The Trust, which was established in 1996 through an Emiri decree by His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, is an independent government authority in the emirate.

Al Turaifi explained: "We at the AGT plan to run various comprehensive projects that revive the Sunnah [as told by the Prophet Mohammed (PBUH)] of endowment on modern Islamic lines in the Arab world."

He said the objective of the Waqf shares is to allow all categories of society to participate in endowment projects and not restrict it to the very rich alone.

Besides, he believes that such schemes will help increase the fund that goes in for the well being of the needy.

The AGT has launched Waqf shares with nominal prices of Dh100 per share, to run the trust on modern Islamic lines. These shares are also available for Dh200 and Dh500.

The money collected will be invested in the Awqaf Real Estates and the income generated will be allocated to services in eight different areas and projects: publication of the Holy Quran, help for the poor and the disabled, assistance for new Muslims, construction and renovation of mosques, money for Haj and pilgrim services, to run rest houses for the elderly and other Waqf investments.

Al Turaifi clarified that the shares were open to be bought by both UAE nationals as well as expatriates.

Waqf shares are available at the AGT office in Sharjah and in all the branches of Dubai Islamic Bank (DIB) in the UAE.

Besides, for any one interested to invest in these shares who cannot personally go to collect them, the AGT has provided a service that shall make things easier. You can call 06-5683338 and an AGT representative shall deliver your shares to you.

Yet another convenient feature for those interested: the Waqf shares are available at stands set up in all Sharjah Co-operatives and the Taawun Mall. Available at the counter are leaflets that brief you on the role and objective of the Waqf Shares, along with an attached form to enrol yourself at it.

Al Turaifi concluded: "The pioneering project of endowment shares launched by Sharjah Awqaf General Trust should be studied and followed by other endowment establishments to enhance the scope of investment in endowment projects, in order to have better income resources."


Those keen to invest in the endowment projects can go to any Dubai Islamic Bank branch and give the following account numbers for payments:

- For publication of the Holy Quran - 7699042
- For the poor and destitute - 7699085
- For assistance for new muslims - 7699093
- For Waqf real estates - 7699174
- For the disabled - 7699123
- For the mosques - 7699050
- For Haj and other pilgrim services - 7699077
- For the elderly - 7699115