We hope that with your support we can build a strong institution and leave a lasting legacy.
Benefits
- The establishment of the Waqf will ensure the MCB can continue its central operations, policy work and projects without worrying about securing funds from external donors
- The quality of the MCB will be maintained and its impact will not be deterred by limited resources
- The MCB can build organisational capacity and growth with better services, quality outreach and sustained impact
The MCB Waqf Project FAQs
What is WAQF?
Waqf is a charitable endowment where assets are donated to provide a continuing benefit. Income from the endowment would be used for a charitable or religious purposes
What purpose will the MCB WAQF serve?
- Achieving long term financial sustainability for the MCB’s core functions
- Strengthening the capacity of the organisation to serve the needs of British Muslim communities
- Building the institution that is fit for the future; showing excellence in leadership and bringing communities together
What does the MCB need a WAQF now?
- While British Muslims are facing increasing challenges, politically and socially, the MCB has strong limitations on capacity and resources
- With a growing elderly population and 50% of British Muslims being young people, we need an organisation that is fit for purpose and fit for the future
Where will the money go?
- The MCB’s target for the Waqf’s initial endowment is £2-3 million to begin a process for investing in Shariah-compliant investments,
- Investments which will be guided by an expert advisory board and managed by a professional Waqf manager in accordance with pre-agreed investment guidelines
- The Waqf will be subject to regular financial and Shariah audits, ensuring full transparency and detailed reporting.