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Islamic Development Bank promotes waqf for development's sake

Dr. Farhan Nethami
Dr. Farhan Nethami
OXFORD, Britain, April 27 (KUNA) -- The Islamic Development Bank (IDB) dedicates special concern for promoting waqf in line with its objective of boosting social and economic development of Islamic nations, an IDB official said here on Thursday.
The IDB, since its establishment, has sought to innovate mechanisms to benefit from the waqf institutions, said Dr. Abdullah Mohammad, representative of the Islamic Institute for Research and Training at the IDB, in a statement he made at eighth forum on fiqh issues, held at the Oxford Center for Islamic Studies.
The Islamic bank, in line with its strategic perspective until 2020, themed "vision for the dignity of human race," advocates benefiting from the waqf institutions to limit poverty, boost education and peoples' prosperity.
Dr. Farhan Nethami, the center chair, lauded the Kuwaiti General Secretariat for Aqwaf for promoting waqf values in all parts of the world, through funding philanthropic projects.
He called for following the example of Kuwait in the waqf field and establishing coordination with non-Muslim communities in the social and economic domains, noting such an approach boosts understanding and mutual respect. (end) kd.rk