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US$105bln Waqf sector ‘can boost Islamic finance’

Posted on 20 December 2010

From Tradearabia.com: Shari’a compliant philanthropy, or planned giving, is on the rise with the Waqf sector (Islamic endowment) estimated at around $105 billion globally, according to research conducted recently by Ernst & Young on the sector.
Ashar Nazim, director and head of Islamic Financial Services at Ernst & Young, says: “The Shari’a compliant endowment sector provides a unique impetus for the growth of Islamic finance including the nascent asset management industry……………………………………….Full Article: Source

 
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