WAQFY Cash Pan

WAQFY Cash Pan Number of pans disbursed: 3173
Number of pans returned: 1650
Amount Received: $200,000
As at: June 13th, 2017
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Friendly Society launches new product - Waqfy Cash Pan

From left Fareed Ali, President of TTTFS, Adeeb Ali, Dr. Yahia Abdul-Rahman and Manwar Ali, Secretary of TTTFS.

The “Waqfy Cash Pan”, a new Waqf (Islamic endowment) product was launched at a dinner held on Friday evening at the Islamic Centre, Kelly Village to welcome Imam, Scholar, Banker and Author Dr.Yahia Abdul Rahman who is on a 3-day visit to this country.

The brainchild of youthful Adeeb Imtiyaz Ali (member of Takaaful T & T Friendly Society (TTTFS) the “Waqfy Cash Pan” is a pan that allows the individual to make cash Waqf deposits at his/her convenience. With the focus on coins, it provides an easy way to make charitable contributions while getting rid of unwanted coins. In addition to collecting money, the project has the additional benefit of educating people about Waqf.

The society launched its Waqf Fund in 2004 as a platform for its charitable, welfare and development programmes. The Society has continued to propagate the concept and practise of Waqf. In addition to printing and distributing brochures about Waqf, the Society published 10,000 copies of a booklet on Waqf in 2009, the majority of which has been distributed locally and abroad. To date (February 2011), the society’s Waqf assets have crossed $1.2 million dollars (TT). The beneficiaries of the Waqf have so far included the poor and needy, orphans, the aged, abused women and bereaved families. Expenses that are directly related to the Waqf are paid from the Waqf Fund surplus.

The Waqfy Cash Pan is a 540ml tin with an attractive label giving (a) basic information on Waqf (b) the holder’s name and (c) the number of the Waqfy pan.

Anyone who wishes to obtain a Waqfy will be required to fill out a simple Waqfy Registration Form. They must return the Waqfy at the end of the calendar year or earlier if it is filled. If they desire, a new Waqfy can be assigned on returning of the previous tin. The contents will be counted and a Takaaful T&T receipt will be issued. All Waqfy tins are to be returned to Takaaful T&T only and the Waqfy tins are the property of the Society.

Takaaful T&T will produce 1000 Waqfy tins for the calendar year of 2011 in an attempt to raise $100,000.00 through this product.

Waqfy Cash Pan

As the name connotes, it is a pan that facilitates the individual child and adult to make cash Waqf at his/her convenience.

With the focus on coins, it is easy to contribute and can even provide for many, a comfortable means of disposing of unwanted coins.

It is also a means of bringing into circulation idle money in the form of thousands of dollars in coins.

However, apart from the collection of idle money, a major benefit of the project will be an increase in knowledge and awareness about Waqf.

All funds collected will be credited to the Society’s Waqf Fund. Waqf funds are not given away but are invested. Distributions are made only from the profits and not from the capital. Waqf, therefore, is a ‘lasting charity’.

The Waqf is a general purpose Waqf allowing the Board of Management to decide on the beneficiaries of the Waqf. The beneficiaries of the Waqf have so far included the poor and needy, orphans, the aged, abused women and bereaved families. Expenses that are directly related to the Waqf are paid from the Waqf Fund surplus.

As a result of the structure of the Society, the Waqf can claim to be ‘Community owned.’ The Society is membership based with its membership open to the Muslim Community. The Board of Management which administers the Waqf is elected by the membership and reports to the members at the Annual General Meeting. The published Annual Financial Statements, which are presented to and discussed at the Annual General Meetings, incorporate the Waqf operations thus allowing for transparency and accountability.

Rules

  1. Waqfy pans are the property of Takaaful T&T and should not be tampered with.
  2. All Waqfy pans are to be returned at the end of 2011 or earlier.
  3. Individuals wishing to attain a Waqfy pan are required to complete a Waqfy Registration Form.
  4. Participants should know that if you give something in Waqf that is no longer theirs, it now belongs to Allah. Taking money back from the tin will be considered stealing from Allah.
  5. On return of the pan, a receipt for the amount saved will be issued.

For a Waqfy Cash Pan, please contact us This email address is being protected from spambots. You need JavaScript enabled to view it. or 682-1141 or 663-4541

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Contact Information

PO Bag 1066, Valsayn,
Trinidad & Tobago
(868) 682-1141
(868) 663-4541