The need for bona fide Islamic financial institutions is painfully obvious. Existing efforts to provide a degree of continuous financial stability for the multifarious religious and social concerns of Muslims in the UK are commendable, but clearly fall short of adequately sufficing the growing needs of the community in the United Kingdom. This is especially so amongst the multitude of recent educational and social initiatives that have sprung up in recent decades.

New Problems, Old Solutions

The importance of waqf in Islām is well known. The Arabic word waqf (plural, awqāf) can be loosely translated into English as a “religious endowment or trust,” although this term does not convey the proper sense of religious piety which awqāf are associated with in Islām.

Awqāf are “endowments” in the general sense, in that they are monetary gifts made to both individuals and institutions. They can further be defined as, a legal entity that has the potential to own, purchase and sell in addition to granting and receiving gifts.

Throughout history, such gifts provided for many of the spiritual and temporal wants of the Muslim community. The revenue of such endowments built and sustained public and private places of worship, established schools and hospitals, supported scholars and teachers, maintained orphanages and homeless shelters, provided sanctuaries for animals, and supported the general and specific needs of the community, educationally, socially and religiously.

Establishing the Endowment

£2.5m in finance is required to establish the capital base of an endowment, the revenue of which will be eventually used, in part, to financially support the development and maintenance of a number of religious, educational and social initiatives that are deemed necessary for the holistic and continued growth of the Muslim community in the UK.

There are five aims of the Endowment:

  1. To promote a prophetic and sacred approach to finance and economy.
  2. To establish an endowment in order to sustain the activities of the designated beneficiaries.
  3. To develop a financial institution that provides members of the community with the opportunity to save and borrow in accordance with the ethics of Islām.
  4. To provide a variety of ethical financial services.
  5. To organise educational courses, conferences and publications.

Our intention is for the endowment to experience steady growth in its capital base, so that a substantial endowment is built over a period of twenty years. The importance of such growth cannot be overlooked as both the number of funded projects and the needs of existing projects increase.

You can download the Suffa Endowment strategy document here.

The Challenge

We intend to set up a minimum £1million fund for the Suffa Endowment by the end of Ramadan 2021. You can support this initiative in one of the following two ways.

Become one of the 92 Khadims/Khuaydims

We are asking 92 khadims/khuaydims to each solicit individual £2,500 donations to go towards the amount needed to launch the endowment successfully.

Each of the 92 individuals will only have until the end of Ramaḍān to find their respective donors and so at this point we are only appealing to those from amongst you who truly believe they can achieve this in the said period of time.

If you believe you can solicit fourteen (14) individual £2,500 donations, then please register yourself as a Khadim.

Alternatively, if you believe you can solicit seven (7) individual £2,500 donations, then please register yourself as a Khuaydim.

To register to become one of the 92 Khadims/khuaydims, please use the link below:

Register as Khadim

To see how our current Khadims are supporting the Suffa Endowment, click here.


Become an individual Donor

We are seeking individual donations of £2,500 by the end of Ramadan for the Suffa Endowment fund.

You can donate today by using the link below:

Donate Now


Contact

If you have any questions regarding the Suffa Endowment project, then please complete the form below: