“Direct Aid Society” with the cooperation of Bin Dayel chair: discussion seminar about indicators of measuring the Waqf performance in paying the returns and the investment returns.
Direct Aid society with the cooperation of Bin Dayel chair – Al-Imam Muhammad Ibn Saud Islamic University in Riyadh, held a discussion seminar about the degree of using the various indicators to measure Waqf performance and its effect in investment field and distributing the returns. Dr. Foad Alomar, a member in the board of directors of the Society showed the important factors of the study with the attendance of more than 15 representatives of human establishments and organizations and charity societies inside Kuwait in addition to specialists in some governmental establishments and universities.
The discussion seminar was held to discuss and show the most important element of the prospective study and the introduction to Rashid Bin Dayel Chair for Waqf studies in Al-Imam Muhammad Ibn Saud Islamic University in Kingdom of Saudi Arabia which was prepared by a team of specialists including Dr. Foad Alomar, Prof. Dr. Ghanim Alshahin, and Dr. Abdulaziz Alosami.
In the beginning of the seminar, Dr. Alomar welcomed the attendants expressing that the study aims to develop an indicator to measure the performance and effect of Awqaf establishments especially in two important fields and two basic activities which are: the returns of investment and the return of paying the earnings. The goal of developing these indicators is keeping and developing the assets of the Waqf establishment and well distributing its returns with maintaining its good reputation, confirming that this study does its best to develop Waqf establishments and its good management as the Waqf basis is to seek charity and to gain profit and to develop its assets. So, finding an indicator or assessment to the performance of Waqf establishment in its various fields of work with setting the essence and nature of measurement or the indicator which sets that will result in improving the performance of these establishments and recognizing the weak points in order to treat them. Dr. Foad Alomar also showed the indicator of the investment returns and its connection with the society and enlarging its effect in humanity development.
Dr. Ghanim Alshahin reviewed Waqf profit indicator building elements in paying the returns in one of Waqf fields which is “digging wells”, with setting the most important contents of this indicator as showed by the received results. Also he explained the details of digging wells including reducing the healthy costs.
The attendants participated in discussing what mentioned in this study of elements, numbers and various indicators especially how to reach to install these suggestions to be developed. The attendants asked to review the study after being applied in elected cases and restudy it under the notes which were mentioned in the discussion seminar. Finally Dr. Abdullah Almatrody, the chair representative of Rashid Bin Dayel for Waqf studies thanked the attendants for their good responses and their generous notes and thanking is continuous for Direct Aid society for their support to this important study.