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Masjid Waqfs and Institution Waqfs presented

At the Masjid & Institutions Waqf Forum (organised by AWQAF SA)  held at the Masjid Abu Bakr Siddique, Erasmia, South Africa,  and which was attended by several local and intrernational scholars, activists, mosque & madressah committee members, and businessmen, various presenbtations were made.

Dr Hisham Dafterdar, from Qaf Holdings in Kuwait  and a former executive at IDB’s Awqaf Property Investment Fund (APIF)  gave several examples of projects cofunded by  APIF in Sharjah, Iran, Morocco, Qatar and elsewhere.

Deputy Minister of Education, Enver Surty,  who hails from Rustenburg and was part of the Rustenburg Mosque Plaza  gave  the historical  background to the project and explained in detail how the community successfully raised capital  for a shopping centre that was built on Mosque Waqf property. He provided details of the healthy financial position of the Mosque through this venture and how the Mosque was now not only self sufficient but also contributed to several other community development projects in Muslim communities around Rustenburg townships.  The  shopping centre was built with a unique debenture certificate scheme where investors (drawn from the Muslim community)  and the mosque entered a partnership which was approved by Islamic Scholars & the then Jamiatul Ulama – Transvaal  ulama.  The return on the original investment is now standing at 70% pa.

Other presentations were made by Br Rashid Chopdat on the Nurul Islam Plaza project, in Lenasia – another winning story, but not without challenges.

Br Haroon Kalla, gave a detailed account and historical background of another pioneering project: the Queen Street. Pretoria Waqf – also known as the Preoria Muslim Congregation.   The mosque now owns several income producing buildings and is serving the needs of the community and funding hundreds of student bursaries. Br Haroon also gave details of the Awqaf SA initiated WAREES SA (PTY) LTD  – a R20million consortium invested in prime industrial property and  made up of  Awqaf SA,  Assalaam Educational Institute, Islamic Propagation Centre International (IPCI), Jamiatul Ulama SA (Mpumalanga), and the Voice of Medina Trust.  Br Haroon invited those present to join the new initiative “Bridge City” investment in the Durban area of Phoenix/ Kwa Mashu.

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