Scenario 2 The United Nations' refugee agency has unveiled plans for a global rollout of its zakat fund as it seeks to b

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Scenario 2 The United Nations Refugee Agency Has Unveiled Plans For A Global Rollout Of Its Zakat Fund As It Seeks To B 1 (41.82 KiB) Viewed 18 times

Scenario 2 The United Nations' refugee agency has unveiled plans for a global rollout of its zakat fund as it seeks to better leverage Islamic giving to support its relief work and plug funding gaps. UNHCR will also expand its Islamic fundraising with a legacy scheme for donors and is exploring the creation of an Islamic charitable endowment, or waqf, to support the refugee cause. "With Islamic philanthropy, we are only scratching the surface," said Khaled Khalifa, UNHCR's regional representative to GCC countries and senior adviser for Islamic philanthropy. "I strongly believe that Islamic philanthropy can respond to most of the humanitarian needs around the world. We know there are tens of billions of dollars that are circulating in zakat alone - outside of waqf and sukuk." Excerpt from https://bit.ly/3Li7zNu In what ways the mobilisation of zakat and waqf funds could address these humanitarian challenges? Elaborate the underlying shariah concepts, principles and mechanisms (plus calculations where applicable) of your proposed framework for each of the instrument to justify your answers.