Ishraq Endowment Fund commences operations
This innovative Sharia-compliant endowment investment fund represents a qualitative leap in enhancing waqf investments and contributes to entrenching sustainable development concepts while maximizing the social impact of investments – key pillars of Oman Vision 2040.
Dr. Ahmed Ali Al Ka'abi, Chairman of the Ishraq Endowment Fund's Board of Directors, stated that the operational launch marks a significant milestone in the Fund's journey. He emphasised that the next phase will activate investments according to a strategic vision carefully developed by the Fund's Board.
He added that the Fund is transitioning from establishment to active operation by commencing investments in Sharia-compliant public markets, aiming to generate sustainable financial returns that support charitable initiatives and social projects.
The Fund also offers diverse opportunities for investors – both individuals and institutions – through varied subscription categories, including perpetual endowers, temporary endowers, and investing subscribers (for individuals and institutions alike).
Khalid Awadh Al Balushi, CEO of Oman National Investments Development Company (Tanmia) – Investment Manager – noted that the Fund continues Tanmia's pioneering role in establishing and managing qualitative investment funds. He described the Fund as a practical embodiment of 'socially impactful investment' and a strategic step to enhance the waqf sector's contribution to supporting the national economy.
Al Balushi added that the Fund provides sustainable, Sharia-compliant investment opportunities that deliver tangible positive societal impact, aligning with national directions toward sustainability and community partnership. Tanmia will leverage its extensive expertise in investment fund management to ensure the Fund achieves its targeted returns and objectives.
The Ishraq Endowment Fund introduces an innovative model combining financial returns with social impact. Through the Fund's investment returns, contributors can support social and developmental projects in health, education, social care, and other fields while generating stable financial yields.
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