The Cash Waqf Fund plans to enroll 100,000 children from Quranic schools, known as "daaras," in the country’s health insurance scheme known as (Couverture Maladie Universelle - CMU) during the year 2023. This was announced by Racine Bâ, Director of the High Authority of Waqf, during an event in Tivaouane. Established in September 2022 by the President of the Republic of Senegal, this fund aims to attract resources from the private sector and philanthropists. These resources are subsequently invested in Sharia-compliant products, and the generated profits are redistributed to those in need.

The first beneficiaries of this program will be the students of Quranic schools, with 100,000 children from the most disadvantaged "daaras" being covered by CMU starting this year. The Cash Waqf Fund is an example of structured philanthropic investment, replenished annually, and should inspire other religious communities and the entire society. It is considered an effective instrument for financing and combating poverty in Senegal and many parts of the world. It's worth recalling that Waqf, an instrument of Islamic social finance rooted in Islamic tradition, has been playing this crucial role for centuries by strengthening the social fabric.

Furthermore, there are plans to use Waqf-related instruments in the construction of the grand mosque of Tivaouane to facilitate the maintenance of places of worship. A successful example of this mechanism can be found in the management of the holy sites of Islam in Mecca and Medina, where a Waqf fund was created to finance the maintenance and needs of the workers.

IF NEWS