In an initiative to enhance the waqf (endowments) investment sector in the Sultanate of Oman, the ‘Ishraq Waqf Investment Fund’ was launched today. The fund was established in partnership with the Ministry of Endowments and Religious Affairs, the Sultan Qaboos Higher Center for Culture and Science, and Bank Nizwa, in collaboration with the Oman National Investments Development Company ‘TANMIA’ as the fund's investment manager.  
This pioneering initiative adds significant value to the waqf sector and marks a considerable advancement in the development of Islamic financial tools. The fund aims to bolster the developmental and investment role of the waqf sector in Oman, contributing positively to sustainable social and economic development through Sharia-compliant investments. Additionally, the fund provides individuals, companies, and waqf institutions with opportunities to contribute to charitable initiatives and community projects that align with Islamic values. The fund’s launch is part of the government's ongoing efforts, represented by the Ministry of Endowments and Religious Affairs, to support and enhance the waqf investment sector, promoting comprehensive development and uplifting society across all fields.
The Ishraq Waqf Investment Fund was launched under the patronage of His Excellency Dr. Mohammed bin Said bin Khalfan Al Mamari, the esteemed Minister of Endowments and Religious Affairs, attended by senior officials from various entities. The launch ceremony included a press conference with a panel discussion to address various questions about the fund.
On this occasion, Dr. Ahmed Al Kaabi, Chairman of the Ishraq Waqf Investment Fund’s Board of Directors, said: “This fund extends Omani innovation in the waqf sector, where waqf has historically been an integral part of Oman’s heritage and culture. Furthermore, the Ishraq Waqf Investment Fund raises community awareness of Sharia-compliant investments, encouraging individuals and institutions to contribute to impactful charitable efforts, fostering a culture of giving and generating positive impact in society.”
He added, “The Ishraq Waqf Investment Fund stands apart from traditional waqf funds due to its unique structure and community-focused goals; it combines investment and endowment options, offering three distinct subscription categories to meet the diverse needs of subscribers. Participation in this fund is open to both individuals and institutions, providing equal opportunities for all to support the waqf investment sector.”
The fund has an initial capital of 10 million Omani rials and offers three types of subscribers: the perpetual endower, a subscriber who chooses to endow their funds permanently for charitable purposes with returns dedicated to specific purposes such as mosques, the needy, orphans, or general charitable activities under the supervision of the Ministry of Endowments and Religious Affairs; temporary endower, a subscriber who selects a fixed time period for endowment and specifies their preferred areas of allocation; and investment subscriber, a subscriber aiming for financial returns through the fund's investments. The minimum subscription is set at OMR 500 for individuals (with an additional 20 baisa per unit subscription fee) and OMR 5,000 for companies (also with a 20 baisa per unit fee), making it accessible to a wide range of participants.
The Ishraq Waqf Fund offers innovative and promising investment opportunities by facilitating access to Sharia-compliant investments. The fund supports the financial goals of individuals and businesses while fostering shared responsibility toward societal well-being. This initiative is closely aligned with national aspirations to empower communities and promote sustainable development, contributing to a bright future for the Sultanate of Oman, in line with Oman Vision 2040.