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Sadad Online


The Knowledge Waqf Copes with the Updates of Transforming Dubai into a Smart Government

03 Apr ,2016


Dr. Mahmoud Abdalaal, Chief Executive Officer of aafaq Islamic Finance, said that the company supports the initiative of His Highness, Sheikh Mohammad bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and ruler of Dubai, may Allah protect him, which focuses on launching the greatest international initiative to revive the Waqf and direct the Emirates government to raise a creative and innovative generation that is able to interact with the era developments and the future needs.
aafaq has decided to endow all knowledge services and products related to Aafaq Center for Research in Islamic Economy, which has finally launched the first encyclopedia in Islamic finance and first directory for Islamic Finance in Arabic. It provides multidisciplinary studies and researches to handle strategic and operational matters about Islamic Economy.
He indicated that the Center will provide free courses for top students and that they are currently preparing for getting Dubai Endowment Sign. He also indicated that the Knowledge Waqf copes with the updates of transforming Dubai into a smart government and provides additional opportunities for students.
Abdalaal added, “We highly appreciate and value the initiative of reviving the Waqf. We think that it highlights an important aspect of the Islamic civilization and reinforces the foundations of stability, sustainability and cooperation between both public and private sectors. It also revives the sides of the social solidarity between individuals and companies, relieves the pressure on the poor and founds common norms and ambitions for the common good and the public benefits.”
Abdalaal considered the Waqf investment capable of achieving economic goals; such as increasing the flow of the cash income in the fields of Halal investment uses, especially if the Waqf products or the endowed allocations thereof cannot satisfy the new expenditure needs.

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