Focus on charitable acts

President Abdul Hamid yesterday urged well-off people and corporate organisations to concentrate on charitable activities, like zakat and waqf, which would supplement the government efforts to lift the people from poverty.

"We need to extend our hands to pull out the less privileged community from the curse of poverty . . . Waqf resources will facilitate the government strides for rooting out poverty, ensuring social safety and achieving Sustainable Development Goals (SDGs)," he said at the inaugural ceremony of an international workshop in a Dhaka hotel.

Islamic Research and Training Institute, Islami Bank Bangladesh Limited (IBBL) and Centre for Zakat Management have organised the two-day workshop titled "Revival of Waqf for Socioeconomic Development" with IBBL Chairman Arastoo Khan in the chair. He also called upon scholars to put their full efforts to discover the essence of different Islamic financial instruments, including zakat and waqf, to support the disadvantaged community.

Referring to the successful institutionalisation of waqf resources in some Muslim countries, the president stressed the need for reforming and modernising waqf aiming to institutionalise waqf resources for the greater welfare of the society. "Although waqf properties in Bangladesh are administered by respective laws and regulations, we need to reform and modernise it," said the president.

Noting that many educational institutions, orphanages, and mosques are based on waqf properties, Hamid said it indicates that waqf has got a deep root in society and culture.

Hamid said some Islamic banks have introduced Cash Waqf as a new product of savings and perpetual charity while Centre for Zakat Management (CZM) has been implementing different poverty alleviation projects by effectively utilising zakat and waqf fund. "I hope more banks and organisations will come forward to establish such institutions as part of their responsibilities to the society," he said. The president said waqf is a voluntary charity characterised by perpetuity and its purposes include educational institutions, healthcare services, public facilities and religious establishments such as mosque, orphanage and graveyard have immensely contributed in the society. Therefore, he said, the strength of waqf has a direct effect to enhance the capabilities of the poor to take care of themselves and its benefit may be used for everyone, not for Muslims only.

At the very outset of his speech, the president paid rich tribute to Father of the Nation Bangabandhu Sheikh Mujibur Rahman and the unfading memory of the martyrs who made their supreme sacrifices for the cause of country's independence.

He thanked the Unesco for recognising the historic March 7 speech of Bangabandhu Sheikh Mujibur Rahman at Race Course Maidan in 1971.

Bangladesh Bank Governor Fazle Kabir, Senior Economist of Islamic Research and Training Institute Dr Khalifa Mohamed Ali, Professor of New Orleans University, USA, Dr Kabir Hassan, among others, were present on the occasion.