Qatar’s Waqf Reaches QR4.5 Billion

Qatar’s Waqf (endowment) volume has reached QR4.5 billion according to 2011 estimates. Around 80% of it is real estate assets while the rest comes from stocks and shares at some Islamic companies, General Director of the Public Administration of Awqaf Abdullah al Dusari said. The budget audit has shown that traded and non-traded assets reached around QR4.5 billion in 2011 in comparison with QR190 million in 1997, he said. The number of endowers reached 94 last year and there are efforts to increase this figure, al Dusari added in a press conference at the Administration’s premises to announce the “Waqf Loyalty Day” event. A number of factors contributed to the flourishing of Awqaf including the Administrations’ efforts towards bolstering and developing them as well as the booming economic situation in Qatar encouraging investment, in addition to people’s awareness of the importance of the Waqf, he indicated. The “Waqf Loyalty Day” due to be held next Saturday came as a result of the need to show appreciation to endowers among Qatar’s people for their contributions and introduce them to projects adopted by the Administration, the General Director remarked. The forum will be held under the auspices of HE the Minister of Awqaf and Islamic Affairs Dr. Ghaith bin Mubarak Al Kuwari in attendance of invited endowers, he said, calling on every endower who has not received an invitation to attend this forum which is planned to be held on a yearly basis. The forum agenda constitutes a number of events including an exhibition by parties the administration has dealt with in addition to their projects as well as a clarification of Waqf methods in the past and how they currently are, al Dusari added. In regards to the “Gaza Waqf”, the General Director asserted that it has been finalized, rented, and handed to the Sheikh Eid Charity Association for expenditure on Gaza’s people.