Mr. Ahmed Ali Siddiqui, IBA Alumnus, Director IBA CEIF, Co-founder and Managing Trustee of Ihsan Trust received the Best Waqf Award for 2017 on behalf of the Trust by Crown Prince of Dubai at Islamic Economy Award
Ihsan Trust, a Pakistani Organization established under the rules of Waqf, has received the Global "Islamic Economy Award 2017" in the category of "Waqf and Endowment" in recognition of its efforts to provide interest free loans to deserving students for higher education. His Excellency Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of Dubai Executive Council, presented the award to Mr. Ahmed Ali Siddiqui, the Co-Founder & Managing Trustee of Ihsan Trust, at a ceremony held in Dubai on 27th November 2017.
The award recognizes innovative world-class business initiatives that have contributed to the socio economic welfare of the Muslim population by selecting winners at the global level. Ihsan Trust was the only organization from Pakistan which won the award at the ceremony in any category, placing Pakistan as the leader in the area of Waqf and Endowment.
Ihsan Trust is one of the largest private sector trusts in Pakistan that focuses on providing financial assistance in the form of interest-free loan facility to needy and deserving students seeking higher education in Pakistan. To date, the Trust has provided this facility to over 2,000 students pursuing higher education in more than 110 universities and professional bodies across Pakistan including IBA Karachi, LUMS, GIKI, NUST, DOW, IMSciences Peshawar, Riphah University etc to name a few. The Trust also provides regular support and funding for Institute of Business Administration (IBA) National Talent Hunt Program and to date has sponsored over 180 students pursuing their Bachelors from IBA.
The vision of Ihsan Trust is to provide interest free loan facility to more than 10,000 students across Pakistan by the year 2020. In addition to supporting education, the Trust also provides assistance for medical care, Islamic micro finance, support to people affected by natural calamity, rehabilitation and other community building services.
According to Mr. Siddiqui, this global award is a testimonial of recognition of Ihsan Trust's commitment to serve Pakistan and play its role as a catalyst for change. Ihsan Trust also demonstrates the ethical aspects of Islamic Social Finance and it is an example of revival of Waqf in the Islamic world.