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“aafaq Islamic Finance” receives “Endowment Sign” from Mohammed Bin Rashid Global Centre for Endowment Consultancy

02 Jun ,2016


In line with the global vision for Waqf, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, may Allah protect him, Abduljaleel Alblouki, Vice Chairman of aafaq Islamic Finance, revealed receiving «Endowment »Sign from «Mohammed Bin Rashid Global Centre for Awqaf and Endowment».

Alblouki said: “Out of our faith in the global vision of Awqaf and endowments, which aims to revive the Waqf and transform Dubai into a global center to stimulate and enable Waqf and endowments to serve humanity, we were one of the initiators of the interaction with the concept of innovative knowledge Waqf, through the launch of the initiative «Knowledge Waqf», in coordination with Mohammed Bin Rashid Global Centre for Awqaf and Endowment. This initiative is based on the endowment of all publications of encyclopedias, research, and training courses issued by the «aafaq Center for Research in Islamic Economy (ACRIE)».”

He continued: “In recognition of its corporate social responsibility and as a role model to private sector companies, aafaq receives «Dubai Endowment Sign», from «Mohammed Bin Rashid Global Centre for Endowment Consultancy», which represents the practical interaction with the vision set by HH Sheikh Mohammed bin Rashid Al Maktoum. It soon revived the Waqf as a development tool effective in communities’ contribution to change the limited and narrow perception of Waqf and its methods, through innovation and launch of initiatives that support the development of communities and meet the different needs of the people. This is what «aafaq Islamic Finance» is committed to, as confirmed by its initiative launched, «Knowledge Waqf», thus gaining «Endowment Sign».”

Alblouki concluded: “Therefore; «aafaq» has got advantages announced by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, which is the adoption of Dubai sign of Waqf in the trade-offs standards between companies in the procurements and contracts by government authorities. The procurement departments in government authorities will apply this standard beside the technical and financial criteria used for choosing suppliers or service providers in government authorities.”

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