The Islamic Research and Training Institute (IRTI) is holding a training program on tapping the potentials of Awqaf for poverty reduction, in collaboration with the Palestinian Economic Council for Development and Reconstruction (PECDAR).
The program, being held from 1-4 October 2018 in Amman, Jordan, is hosted by the Institute of Banking Studies of the Central Bank of Jordan, under the theme "Awqaf as Mechanism for Poverty Reduction."
Participants in the training represent the Palestinian government and non-governmental entities, including commercial and Islamic banks, as well as charity organizations in Palestine.
Main themes of the program include principles and practical applications of Awqaf in different fields of socio-economic development – especially development projects that directly affect poverty levels in IsDB Member Countries and within Muslim communities in non-Member Countries.
The first day of the event discussed concepts of Awqaf, Shari'ah-compliant instruments of Awqaf properties [classical and modern modes of developing Awqaf] and legal procedures to protect Awqaf institutions/properties.
"Awqaf is a sector of special focus at IRTI, as we have embarked upon a new project to develop innovative Islamic financial products for development of Awqaf and urban regeneration in our member Countries," said Dr. Humayon Dar, Director General & CEO of IRTI. "We would welcome interest from market players should they wish to enhance their product development capacity."
To spotlight practical aspects of Awqaf in the context of development and poverty reduction, the training is structured to discuss frameworks of Awqaf for economic development with special emphasis on reducing poverty in areas related to health and education sectors, the contribution of Awqaf institutions in financial inclusion and social development.