FNC Highlights Importance Of Diversifying Zakat Distribution Mechanisms And Waqf Investment Areas

The Federal National Council (FNC), led by Saqr Ghobash, convened its 10th session of the second ordinary term of the 18th legislative chapter at its headquarters in Abu Dhabi. The meeting focused on government policies related to managing and sustaining waqf (endowment) and Zakat funds, highlighting their significance in improving societal welfare. During this session, four questions were posed to government representatives.

Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention and Minister of State for Federal National Council Affairs, attended the session alongside Dr. Omar bin Habtoor Al Darei, Chairman of the General Authority of Islamic Affairs, Endowments and Zakat. Discussions revolved around two main themes: ensuring the sustainability of Zakat funds to enhance quality of life and managing Waqf assets effectively.

One of the primary recommendations from the FNC was diversifying how Zakat funds are distributed. The council suggested adopting innovative methods beyond traditional approaches. This includes training capable zakat recipients with necessary skills and providing them with job opportunities, particularly through support for small and medium-sized enterprises (SMEs).

The council also stressed standardising waqf procedures nationwide, especially concerning mosque construction. This aims to improve management and ensure long-term sustainability within the endowment system. A comprehensive geographic map for distributing Waqf resources was recommended to secure sustainability.

The FNC proposed expanding investment domains for endowments to contribute more effectively to social development and family stability. By broadening these investment areas, endowments can better support societal needs while maintaining their sustainability over time.

Overall, these discussions and recommendations aim to enhance the effectiveness of waqf and Zakat funds in promoting societal welfare. By implementing these strategies, the FNC seeks to ensure that these resources are managed efficiently for long-term benefits.

With inputs from WAM