5. How will the net-revenues from the PIOUS WAQF be spent?
Currently the pioneer founder, Samer Ramadan, suggests that the net-revenues of the projects invested by the PIOUS WAQF fund be used as follows:40% - To be re-invested in enhancing and creating new Islamic Technologies.
20% - To be awarded in Research Grants for new beneficial Islamic Technologies.
20% - To be awarded in Scholarships for bright Muslims, as early as possible, seeking to become both Shari’A Scholars and Technology Scientists. Priority is given to the Children and Descendents of Participating Members.
20% - To be given as charitable contributions related to the Islamic Technology of service, for eg: 20% of net revenues from Masajiduna.net shall be allocated to fund maintaining and building new mosques around the world.
