Minute with a Muslim #002 – WHAT HAPPENED with the Waqf Donations
Channel: Tom Facchine
File Size: 2.39MB
So an exciting update, we will have some more details to follow. But your commission has finally closed on our first property to support the walk for you to commit to you. And so that was something that we campaigned for and that many of you donated to So may Allah accept all of our efforts. And we're going to be releasing details about that property and what it means for your commercial in the near future, if you've forgotten what a walker is, so a walker is sort of an underlying asset that is frozen, it can't be sort of inherited or sold and the use of rocks basically, that asset is put to work to make money. And that money is then reinvested in the asset and taking care of all the
overhead charges and or put together towards a charitable end. Right. So someone had a question like, Well, I understand if a walk is like a garden, and then you just, you know, you have the fruits and people eat the fruits, but they didn't understand the monetary aspect, well, you just take the fruits to market and sell them and then you've got a bunch of cash, and now you invest some of that cash back into the garden or whatever Workfit is, in this case, it's a building, that's a rental property, and then whatever is leftover, the profit or the surplus you can put into a discretionary fund if you're trying to look to acquire more, or you can pay teachers or you can, you
know, pay the bills of the operational expenses of the machine to keep the lights on and the water etc, etc. So there's a lot of things that you can do. And if someone's worried about well, okay, if it's comes down to trade and sort of trading on what the underlying asset of the luck produces, then how do we guard ourselves against losses? Well, that's just part of business, just how every other investment portfolio has diversity towards it, and it can succeed and fail that you know, the walk, the property is supposed to diversify in such a way that it will hopefully succeed and will be managed by competent, responsible people who are going to help ensure that it does. So thank you,
everybody, again, for contributing to this and I'm excited to see what continues to unfold and we'll have more details soon.