JEDDAH: The International Islamic Relief Organization-Saudi Arabia (IIROSA) is to launch six Waqf (endowment) projects in Makkah at a cost of over SR470 million with annual returns of about SR45 million which will be used to finance the organization’s relief and development projects.
IIROSA Secretary-General Adnan Khalil Basha told a press conference on Sunday that the organization has already, through the help of a number of philanthropists, purchased the lands on which the endowments will be constructed.
“The projects will further confirm the pioneering role that the organization is playing in institutional welfare work to serve humanity and achieve development and progress,” the secretary-general added.
Basha underlined the importance of Waqf in Islam, adding that it is an important social and economic pillar in Muslim societies.
“The Waqf has played a pivotal role in Islamic civilization and positively contributed to the construction of mosques, schools, hospitals, libraries etc.,” he added.
Basha said the projects were approved by IIROSA’s general assembly during its fourth meeting early last year.
He said the assembly has about 1,000 members and that the door is open for more to join.
He also said that a number of women had generously contributed to these projects and said that the IIROSA has contracted a specialized company to establish a permanent unit for voluntary work. He said the unit would also establish a database and train volunteers.
Basha renewed his call for the establishment of a special fund to honor volunteer relief workers who risked their lives to save others during the recent Jeddah floods. He also announced that the organization would donate SR1 million to the proposed fund.
According to the secretary-general, the six new endowment projects are:
— Buyut Allah Waqf, which is an 11-story housing and commercial building in Al-Khaldiyah district costing SR160 million. The proceeds of this project will be used to build 370 mosques in 18 different countries.
— The Orphans’ Waqf in Ajyad, which is a 30-story hotel costing SR80 million. Its proceeds will be used to sponsor 265,000 orphans in 28 countries.
— The Educational Care Waqf in Al-Masfalah, which will be a 22-story tower costing SR60 million. Revenue from this endowment will be used to finance the activities of 30 educational institutions around the world.
— The Social Development Waqf, which is a 10-story building in Al-Masfalah district at the cost of SR50 million. Revenue from this project will be used to finance rehabilitation programs and give vocational training to provide jobs for about a million people in 97 countries.
— The Dawah Waqf in Al-Maabdah district. This is a 28-story building that will cost SR87.5 million. Its proceeds will be used to benefit about 13,000 male and female students and 720 preachers in 365 Islamic centers around the world.
— The Health Care Waqf in Al-Aziziyah district. This is a 25-story building costing SR33 million. Its proceeds will be used to provide health care to about 33 million people in 285 hospitals run by the organization.
The secretary-general said the organization has a number of endowments in several Saudi cities that have been donated by Saudi philanthropists.
