Recognised as the most notable expression of Islamic philanthropy, waqf is the voluntary, permanent and irrevocable dedication of a portion of one’s wealth – in cash or kind - to Allah for the benefit of a designated group of beneficiaries. Standing out as one of the greatest achievements of Islamic civilization, waqf is a philanthropic foundation, with the mission of maximizing the value of endowments, while also reinvesting the revenue generated back into charitable purposes.
However, given the rise in the continuous innovations and disruptions happening in the financial and technological terrain, key institutions of the Islamic economic system, including Islamic finance and waqf are being forced to reinvent themselves especially in terms governance and regulations so as to remain relevant since they constitute major socio-economic institutions in the today’s financial market.
It is for this reason, Finterra and International Centre for Waqf Research (ICWR) are jointly organising the International Waqf and Blockchain Forum (IWBF2018) to highlight and explore the transformative potential of blockchain for the sustainable development of waqf while also serving as a platform to highlight alternative approaches in addressing challenges faced by waqf.
With the theme of “Harnessing the Power of Blockchain technology for the Global Development of Waqf”, this forum will serve as a platform to extend the frontiers of waqf developments and initiatives. The forum will shed light on new thoughts and ideas, in the quest for transformation and management of a sustainable socio-economic path for Muslim nations across the globe.
The overall objective of International Waqf and Blockchain Forum 2018 is to establish clarity and a collective understanding of the potential of blockchain technology for supporting the facilitation and development of waqf on a global scale whilst also promoting new economic alternatives to enhance Muslim unity. An improvement in these key sectors would provide us the key to that treasure trove which is lying scattered everywhere in the whole of the Muslim world and which could only be unlocked through good governance and economic development.
Thursday, March 1 at 9:00am to 6:00pm
Menara Kembar Bank Rakyat 33 Jalan Rakyat Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur 50470