Across the world, hundreds of thousands of properties are under the management of charitable trusts and endowments known in Islamic law as waqf. Similarly, there are several philanthropic efforts outside Islamic law that are well known for their roles and services in community development. It holds great potential for all philanthropic foundations, regardless of their religious affiliations, to complement each other’s efforts in addressing the socio-economic needs of the global community.
The 2022 Harvard University Muslim Association (HUMA) Islamic Finance Conference aims to bring together academics, professionals, and community leaders of waqf and philanthropic foundations in the United States and from across the world. The conference will cover the effectiveness of these institutions especially the concept of cash waqf and leveraging charitable giving that is targeted to the development of the community and their endeavors as an effective tool to address societal needs. The conference will also examine the use of modern tools and techniques to overcome the challenges in the management of philanthropic institutions.
Themes explored by the conference will include:
- Perspectives and practices of major religions on philanthropy.
- Tools and techniques and other underutilized mechanisms (e.g., blockchain),
- Highlighting the status of endowments and philanthropic foundations and its management around the world
- Impact of endowments and philanthropic foundations in the socio-economic development of the community