Posted on December 31, 2015

Sheikh Thani Bin Abdullah Foundation for Humanitarian Services (RAF) plans to buy a QR55m building worth rental income to be spent on charity works. RAF is selling 55,000 shares of QR1,000 each to donors willing to buy them in their names or in the names of their parents, dead or alive, for charity.

A donor can buy as many shares as possible. It will be like taking part in an endowment for charity by spending a small sum or sums. Usually an endowment is built in a way that the principal amount is intact over time and its value keeps growing while the income from investment is available for use, or part of the principal is released each year, which allows for the donation to have an impact over a longer period of time than if it were spent all at once.

The RAF initiative is entitled ‘Waqf Al Walidain’ (endowment for parents) and aims to buy a housing complex with contribution from donors. The building will be rented and the income will be spent on needy people (citizens and expatriates) to improve their living conditions in and out of Qatar. To collect donations, RAF plans to issue 55,000 shares of QR1,000 each. RAF will approach bigger donors and companies to offer shares. 

“The idea is to buy some housing units, rent them out and use the income for charity works RAF is doing in and out of Qatar,” Jabir bin Hamad Al Sharqi, Head, RAF centres and branches in Qatar, told a press conference yesterday. “It will be a type of permanent charity from donors on behalf of their parents.” Donations could be made through Ooredoo by sending an SMS to 92102. The sender has to write “1” in text box for QR1,000, said Dhiyab Al Shahli, Head of the initiative. Donors can also use RAF hotline 55341818 or visit its nearest branch, he added.

“The initiative is receiving good response. We received calls from donors who expressed interest to donate,” said Abdul Nasser Fakhroo, Deputy Chairman, Sufra Al Rahma (ambassadors of mercy) unit at RAF.

source: The Peninsula