New Islamic endowment trust seeks to be UK’s first waqf to combine commercial and social investments
LONDON - A new charitable foundation is being set up in the UK that aims to become a £1 billion waqf fund combining commercial and social investments.
There are waqf funds in the UK which are targeted by specific organisations like Islamic Relief or the East London mosque. However, there are few social waqf funds focused on capacity building in society.
In an exclusive interview with Salaam Gateway, Sultan Choudhury, Executive Chairperson of the new One Endowment Trust (OET) and former CEO of Al Rayan Bank, explains how the waqf will meet its goals as well as longer-term objectives.
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