Head of the Waqf Development Section at the Investment Department of the General Administration of Endowments Abdulaziz Al Abd Al Malik
Doha, Qatar: The General Administration of Endowments at the Ministry of Awqaf and Islamic Affairs has registered a new will from a benefactor who pledged one-third of her estate as a charitable endowment, covering real estate, shares and financial assets.
The endowment will be administered by the General Administration of Endowments, with its proceeds allocated to Quran teaching centres under the Waqf Fund for Serving the Quran and Sunnah. Following the implementation of the will, the General Administration of Endowments will oversee and manage the endowment’s assets, preserve their value and ensure that the benefactor’s conditions are fulfilled in accordance with applicable Shariah and legal regulations.
Head of the Waqf Development Section at the Investment Department of the General Administration of Endowments Abdulaziz Al Abd Al Malik, said the registration of the will reflects the benefactor’s awareness of the importance of documenting her wish to dedicate part of her wealth to supporting Quran teaching centres.
He said the endowment would allow her charitable contribution to continue after her death as an ongoing charity, while ensuring that the proceeds are directed to the purpose she specified.
Al Abd Al Malik noted that allocating the proceeds to Quran teaching centres would support their efforts to teach the Holy Quran, spread its knowledge and promote its values among different segments of society.
He added that the Waqf Fund for Serving the Quran and Sunnah provides a specialised framework for projects and initiatives related to the Holy Quran and the Sunnah of Prophet Muhammad (PBUH).
He explained that the inclusion of real estate, shares and financial balances in the will provides a diversified portfolio of endowment assets, allowing the fund to benefit from the characteristics of each asset class and generate sustainable returns.
The Investment Department, he said, will develop appropriate investment plans once the one-third share of the estate is transferred to the endowment. These plans will focus on developing and preserving the assets while managing them in accordance with Shariah principles and professional standards to generate sustainable returns for Quran teaching centres.
He also stressed that documenting the will clearly identifies the assets covered, the entity responsible for administering the endowment and the purpose for which its proceeds are to be used, thereby safeguarding the benefactor’s wishes and ensuring the clear implementation of her conditions.
