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A scholar of AGU emphasizes the importance of enhancing innovation culture in society to establish Global Waqf

The professor in Technology and Innovation Management of College of Graduate Studies at AGU, Prof. Dr. Odeh Al-Jayyousi, emphasizes the importance of enhancing innovation culture in society to establish Global Waqf via technology platforms within rational governance to support the sustainable development goals, during participation in Islamic Conference for Awqaf actions, involving number of the Islamic countries' ministers and officials, entitled “for sustainable competitiveness .. unstoppable reward", reviewing innovation labs application methodologies to develop and sustain Waqf under development of digital cash and block chain technologies.

During the conference held by the Chamber of Commerce at Makkah, Dr. Al-Jayyousi indicated the importance of innovation labs investment to jointly develop local solutions through various sectors, and during design thinking methodology and understanding context and society needs; the Conference tackled a number of key points and emerging issues of Awqaf locally and globally, in addition to the most highlighted challenges facing the sector considering the changes imposed by Coronavirus, as well as the innovative and financing opportunities, governance, administrative development mechanisms in Awqaf area.

Representatives from IsDB, many Arab countries' Awqaf ministries, and innovation and technology researchers participated in the conference. The sessions tackled Awqaf mental imagery and the media role in its formation and development enhancing the social awareness of the social, developmental and economic importance of Awqaf, supporting development of legislative and regulatory Awqaf environment, opening the door for Waqf projects in an updated innovative way, by submitting scientific and practical solutions for challenges facing Awqaf, and opening the door for Islamic countries to share their successful Waqf experiences and practices in Awqaf area.

In conclusion, he recommended Islamic Conference for Awqaf, remotely seen by more than seven thousand audiences, to study the Hajj and Umrah Smart City foundation to glorify Waqf sector contribution to serving spiritual journey participants (Doyof Al Rahman), and to call for Central Bank to cooperate with Awqaf competent authorities to issue charitable trust system and authorization to diversify in modern charitable devices and forms.

He called Conference participants to benefit from the most modern practical practices regarding financing instruments, first of which is the financial technology options, call for specialists to invest in Awqaf to provide soft power with smart Waqf products. He recommended calling for supervisory authorities to coordinate with financial markets to develop training environments to find financial techniques affecting Awqaf growth, and calling for establishing Awqaf funds for self-empowerment to employ youth and productive families to benefit from pilot experiences, as well as calling for the good loan instrument payment under performance of specialized Awqaf entities.