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About

Green Waqf Initiative

The land for the Green Waqf project can potentially include non-productive agricultural lands and land affected by deforestation and unutilized government lands. Engaging relevant stakeholders will enable ICCD to learn from the experiences and expertise of the project partners in appraising the land and analyzing the suitability for either forestry or agriculture. This research-based approach is paramount for the success of the project and adds to the repository of lessons learned for other ICCD member states to replicate. The primary aim of the Green Waqf Initiative is to contribute towards:
a) Climate Resilience of member states
b) Food Security of member states
c) Sustainable Employment through an employment multiplier effect
d) Development of sustainable local communities especially vulnerable populace, women and youth.
To support the aforementioned focus areas of the Green Waqf Initiative, under-utilized or deforested land will be revitalized by either reforesting or through sustainable agriculture supportive of the local ecology.
About

Green Waqf Initiative

The Green Waqf Initiative is based on the Islamic concept of Waqf meaning assets that are donated, bequeathed, or purchased for being held in perpetual trust for general or specific charitable causes that are socially beneficial. In the concept of Waqf, there is an emphasis placed on the perpetuity of the asset, which results in the accumulation of social wealth. Waqf has become an important economic sector having the ability to improve socio-economic conditions and has the potential to contribute towards the SDGs. The Islamic Chamber of Commerce, Industry and Agriculture - ICCIA, to utilize the positive socio-economic potential of Waqf has initiated the Green Waqf as one of the strategic projects in the ICCIA Strategic outlook.

Project Vision

To revive Waqf as a powerful instrument for environmental stewardship, climate resilience, and community prosperity by transforming barren land into sustainable Agro-Forest Parks across the OIC world.

Project Mission

To develop and manage self-sustaining Agro Forest Family Parks on underutilized Waqf land through nature based solutions, community engagement, and Islamic social finance, while documenting and replicating the model to support climate action across OIC member states.
About

The Islamic Chamber of Commerce and Development

The Islamic Chamber is an international non-governmental organization representing the private sector of the Organization of Islamic Cooperation (OIC) countries. ICCIA aims to expand the role of the OIC private sector in realizing the OIC Program of Action 2025 and the UN Sustainable Development Goals Agenda 2030. ICCIA works across the value chain to ensure cohesive support across all domains. One of the strategic pillars of ICCIA's strategy is to be an engine for mobilizing investments. To mobilize these investments, ICCIA uses its Waqf companies to set up model projects for the private sector to emulate and add their expertise to. The strategic aim of these model companies is to provide investable and viable projects which can be leveraged to achieve authentic sustainability.
About

The Islamic Chamber of Commerce and Development

The Islamic Chamber of Commerce and Development (ICCD) is an international non-governmental organization affiliated to the Organization of Islamic Cooperation (OIC). It represents the private sector of 57 member Islamic countries via their national federations and chambers of commerce, in addition to muslim chambers of commerce in non-OIC countries, with a combined membership of 67 business entities. The chamber aims to promote cooperation among its members in areas of trade, industry and information technology, as well as enhance investment opportunities and support economic development across the Islamic world.
Green Waqf Initiative

Why Social Financing

The covid-19 pandemic and the subsequent global economic downturn widened the development financing gap from $2.5 trillion to $4.2 trillion. To bridge this gap unlocking social financing can be utilized to achieve true sustainability. To bridge the financing gap, redirecting Islamic social financing through crowdfunding as the financing mechanism for the Green Waqf forests development can be a catalyst for economic development, it is estimated that over $1 Trillion is distributed annually through Islamic social financing, the Islamic Chamber of Commerce, Industry and Agriculture believes redirecting social financing for sustainable projects can be the new cutting edge in development financing and reducing the reliance on donor agencies and global north financing for the OIC member states. Additionally, the Green Waqf forests are community-driven initiatives, every tree planted and every fruit produced will be either bought or sold in the local community by linking them with the markets. This will have an employment multiplier effect and ensure the sustainability of the Waqf forest. The projects under the Green Waqf Initiative can leverage the potential of crowdfunding for sustainable reforestation, agroforestry and building climate resilience. Additionally, the crowdfunding model can access funding from around the world and generate funds to ensure the sustainability of the projects under the Green Waqf Initiative. The use of crowdfunding as a tool for reforestation, agro-forestry and agricultural activities is gaining ground around the world and has received much interest from researchers. And for that very reason, we believe launching this campaign on Launch for Good would get attention from like-minded socially aware contributors who believe in the importance and sustainable use of Islamic Social Finance.