WAQFWORLD FIRST MOOTED BY UKM
By Nastura Nasir
Pix By Nastura Nasir
JAKARTA, 8 August 2016 – The National University of Malaysia’s (UKM) Research Center for Islamic Economics and Finance (EKONIS) played a pivotal role in establishing the world’s first waqf based crowdfunding platform, WaqfWorld.
The idea was first mooted by EKONIS in a roundtable discussion organized by the Islamic Research Training Institute in January 2016 in Jeddah and was launched at the recent 12th World Islamic Forum in Jakarta. Ummah development is the focus of WaqfWorld.
Their aim is to provide monetary assistance to projects which focus on Islamic microfinance, education or human capital development, humanitarian relief, social enterprise and religious activities or assets.
Some projects which are currently being funded by Waqfworld include to provide new boats with good engine and modern sonar equipment, lending capital for business and subsidized departure fare rates, providing business capital for craftsmen, and providing business capital for livestock farming.
Tun Abdullah Ahmad Badawi, is the WaqfWorld’s Founding Patron.