Dubai launches Sukuk Al Waqf in a push to encourage humanitarian contributions

Dubai government on Tuesday announced the launch of Sukuk Al Waqf, the first of its kind initiative in the world.

Sukuk Al Waqf, is an innovative endowment from the Awqaf and Minors Affairs Authority, which was launched in partnership with the Mohammed bin Rashid International Center for Endowment and Endowment Consultation. It is managed by National Bonds.

Through this endowment, one can place their contribution into a savings account and the profits earned from it will be transferred towards a humanitarian project of their choice.

The Waqf is now open to all contributors be it companies or individuals. The proceeds will be spent on health, educational and humanitarian projects while preserving contributors' assets.

Read more here