Doha: The College of Law at Qatar University (QU) held a scientific symposium titled “Towards a Realistic Investment of Endowment Funds: From Traditional Endowment to Digital Endowment.” The event provided a forward-looking analysis of Qatar’s Law No. 9 of 2021 on Endowments. The symposium explored the legal and economic transformations that require the evolution of the endowment concept to align with local, regional, and global changes in the economy and digital finance.
The speakers, including Dr. Yassir Al Iftaihat, Associate Professor Civil Law, and Dr. Imad Mustafa Qaminassi, Assistant Professor Civil and Commercial Procedures Law at QU, emphasized that endowment, as an Islamic financial system aimed at drawing closer to God by allocating funds and assets for charitable purposes, has significantly evolved through scholars jurisprudence. Traditional charitable endowments, which initially included real estate, movable assets, and benefits, are increasingly facing modern-day challenges. This highlights the
need to expand their scope to include digital assets, particularly in light of the massive technological and digital revolution.
The symposium also shed light on a crucial issue the loss of many endowment funds in several Arab and Islamic countries due to wars and political changes. This has diminished the benefit these endowments once brought to communities. The speakers emphasized that switching to a digital endowment could be the best way to safeguard these assets and guarantee their continuous allocation to charitable causes, unaffected by sudden political or economic fluctuations.
In this context, the researchers discussed the importance of legislative intervention to regulate this transition, clarifying that investing in digital charitable endowment requires clear and adaptive legislation to achieve the desired effectiveness. They noted that digital endowments not only improve fund management, but also contribute to the sustainability of charitable work in the face of modern challenges.
The participa
nts called on Qatari legislators to adopt laws supporting the transformation of traditional charitable endowments into digital endowments, ensuring the protection and investment of these funds to serve society. They emphasized that such legislation must align with Islamic jurisprudence principles, Qatari endowment law, and the nature of digital assets to maximize community benefit. The speakers posed thought-provoking questions: Why not establish a digital school offering remote education? Why not have educational, health, and cultural applications contributing to charitable causes and fostering a progressive civil society? Such initiatives could extend beyond the Qatari community to the broader Islamic and Arab communities, positioning Qatar as a pioneering leader in this field.
In conclusion, the participants agreed that the shift to digital endowment represents a unique opportunity to enhance the role of endowment in economic and social development, safeguarding its funds from loss or freezing due to poli
tical or economic conditions. They also believe this transformation could open new horizons for charitable work in Qatar, positioning the country among those with a positive and active influence in the Islamic world and on the international stage.
Source: Qatar News Agency