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Sharjah council passes draft on endowment law

Posted on 16 February 2011

From Khaleejtimes.com: The Sharjah Consultative Council (SCC), on Tuesday morning unanimously passed a new draft law on endowment in the emirate of Sharjah. Dr Obaid Al Tunaiji, Head of Islamic and Municipal Affairs and Public Departments Committee, SCC, said the 59-article bill streamlines all the issues related to endowment or Awqaf – its nature, types, terms and conditions, validity, endorsement, cancellation, and profit distribution.
As per the bill, every legal and Shariah complaint property or money may be endowed. The properties that may be endowed include shares, bonds, securities, trade marks and intellectual property rights, amongst others……………………………………….Full Article: Source

 
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