Ihsan Trust, a Pakistani organization established under the rules of Waqf has received the "Global Islamic Economy Award 2017" in the category of "Waqf and Endowment" in a ceremony held in Dubai in recognition of its efforts for providing 'Interest-free Loans' to deserving students for higher education.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum - the Crown Prince of Dubai and Chairman of Dubai Executive Council - gave the award to Ahmed Ali Siddiqui, Co-Founder & Managing Trustee of Ihsan Trust. "The award recognizes innovative world-class business initiatives and ideas that have contributed to the social and economic welfare of the Muslim population and winners are selected at a global level," said Ahmed Ali Siddiqui Managing Trustee of Ihsan Trust.
Ihsan Trust was the only organization from Pakistan which won the award at the ceremony in any category and placing Pakistan as the leader in the category of Waqf and Endowment, he added. He informed that Ihsan Trust is one of the largest private sector trust which focuses on providing financial assistance in the form of Interest-free loan facility to needy and deserving students seeking higher education in Pakistan.
To date, the Trust has provided this facility to over 2,000 students pursuing higher education in more than 110 universities and professional bodies across Pakistan including IBA Karachi, LUMS, GIKI, NUST, DOW, IM Sciences Peshawar, Riphah University, etc, to name a few, Ahmed informed. The Trust also provides regular support and funding for Institute of Business Administration's (IBA) National Talent Hunt programme and to date has sponsored over 180 students pursuing their Bachelors from IBA, he added.
Talking about the future, he said that the vision of Ihsan Trust is to provide Interest-free loan facility to more than 10,000 students across Pakistan by the year 2020, our mission is to enable Pakistani youth taking need blind admissions in their choice of universities/professional bodies by knowing the fact that Ihsan Trust is there to support and assist them. In addition to supporting education, the Trust also provides assistance for medical care, Islamic micro finance, and supporting people affected by natural calamity, rehabilitation and other community building services.
According to Ahmed Ali Siddiqui, this global award is a testimony for recognition of Ihsan Trust's commitment to serve Pakistanis and play its role as a catalyst of change. Ihsan Trust also demonstrates the ethical aspects of Islamic social finance and it is an example of revival of Waqf in the Islamic world.
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