Islamic Social Finance SMART WAQF Engineering the Awqaf

Islamic Social Finance SMART WAQF Engineering the Awqaf Industry World 1 st Awqaf Sukuk Winner Islamic Economy Award 2013 Turning unused charitable Resources into Awqaf Revenues Presented by: Husain Benyounis Secretary General – Awqaf New Zealand Established in Feb 2011 - Run By Volunteers

Charity Waste Adahi (Qurbani) Estimated 5 million sheep/year for western Muslims 1 st Preferred 2 nd Preferred 3 rd Preferred Not Possible Processing the Adahi in person Not Possible Witnessing the Processing of the Adahi Possible Processing the Adahi by a 3 rd party (charity) Using the Smart Technology makes it possible to remotely witness the Adahi process of the 3 rd option by-Products (e. g. Wool, Skin & bone, etc. )

By Products Prices in NZ Single $105 Cowhides $899 Double $245 Quarto $480 Sexto $695 Cowhides $899 Source: http: //www. classicsheepskins. com/ & http: //coastalcowhides. co. nz/cowhide-rugs/

Awqaf Farms Solve Major Logistics ü Securing Livestock/Halal Food Supply ü Overcoming Bridging Finance ü Overcoming the Exchange Rate ü Overcoming Charities’ last minute Orders ü 99% of the market is overseas ü Resistance to changes and innovation Two Logistics require major Engineering Adding Economic values (additional livestock) rather than competing with the existing suppliers Partnering with the exiting charities that offer Qurbani & Aid Halal food rather than competing with them Awqaf Farms require huge Capital! Sukuk for Awqaf is the answer

SMART WAQF (S-WAQF) work Smartly & Globally to Engineer a sound “Awqaf Financing Tool”

S-WAQF Macro/Micro Levels Awqaf Sukuk Project Prospectus Approved No Amended Awqaf Micro Level % of the Revenues generated from the newly established Waqf/Awqaf go to S -WAQF S-WAQF PCW SPV Qard Hasan is Given to Awqaf Asset Bought Payment Success Sell Asset Return Cash No Stop Yes Payment No Finish Yes Transfer ownership to Awqaf Organisation Replicate the model somewhere else New Waqf carries its Sustainable Development Goals Awqaf Macro Level Yes Issuance of the Awqaf Sukuk

S-WAQF & Sukuk Maturity @ the maturity of the Awqaf Sukuk Owners will be given 3 options PCW Option 3 Make PCW their Awqaf Sukuk Option 2 Re-TCW their Awqaf Sukuk Macro Level S-WAQF New SPV Option 1 Claim back Their Awqaf Sukuk We do not recommend option 3 - Why? & What is the relationship with the Sukuk owner’s will - ? ﺍﻟﻮﺻﻴﺔ TWC – Temporary Cash Waqf PCW – Permanent Cash Waqf

S-WAQF After Sukuk Maturity What is the ongoing role of S-WAQF with the new established Awqaf? % of the Revenues generated from the newly established Waqf continue feeding S-WAQF Dissolved SPV PCW SPV SPV 1 2 3 X New Awqaf established via Smart Waqf 1 Waqf 2 Waqf 3 Waqf X Sustainable Development Goal SDG 1 SDG 2 SDG 3 SDG X Micro Level S-WAQF The % Revenues from new Awqaf to the PCW entity is significant, Why? Assume Waqf 3 fails to pay the agreed % to PCW, this means the following Either WAQF 3 management are not preforming, or The SDGs demand are more than what Waqf 3 supplies S-WAQF acts as Auditor, Supervisor and Takaful Provider to new Awqaf

Awqaf Sukuk Logistics Sukuk is an expensive exercise ü Sukuk issuers prefer short term returnü Sukuk issuers prefer sovereignty entitiesü Lack of Awqaf political willü Awqaf is not well understood by Sukuk officials ü Sukuk are not well understood by the mainstream ü communities & Awqaf officials Temporary Cash Waqf needs global awarenessü Halal Social Finance is at its infancyü üNo legislations until March 2015 (Malaysia only)

What we have now … 1 of 13 1 st Legislation on Sukuk for Awqaf http: //www. sc. com. my/waqf-assets-development-governance-and-the-role-of-islamic-capital-market-book (March 2015) We became aware of this legislations in June 2015 since than we visited Malaysia in Sep, Oct and Nov 2015. Met with the Securities Commission and other Sukuk officials around applying the new regulations

What we have now … 2 of 13 International Islamic Fiqh Academy (IIFA) ü Decision 013 (01/03) Islamic Development Bank inquires (Qard Al Hasan fees) ü Decision 030 (03/04) ﺳﻨﺪﺍﺕ ﺍﻟﻤﻘﺎﺭﺿﺔ ﻭﺳﻨﺪﺍﺕ ﺍﻻﺳﺘﺜﻤﺎﺭ ü Decision 140 (06/15) Awqaf Investment (Cash Waqf for Qard Al Hasan). ü Decision 178 (04/19) Sukuk (securitization) recent applications & trading ü Decision 179 (05/19) Recommendation b “encouraging the Qard Al Hasan” ü Decision 181 (07/19) Making the Share & Sukuk as Waqf moral rights & benefit ü Decision 182 (08/19) apply “B. O. T” to develop the Awqaf & public infrastructures ü Decision 200 (06/21) Insurance and Takaful ü Decision 215 (11/22) follow up decisions on Insurance and Takaful http: //www. fiqhacademy. org. sa/ Also IFSB and AAOIFI Standards are all ready for us to apply

What we have now … 3 of 13 Identify a Halal Finance Consultancy ISRA Consultancy have been commissioned in March 2016 to verify that SMART WAQF: a) Halal compliance & then b) Structure the World 1 st Awqaf Sukuk

What we have now … 4 of 13 Salma Aid Model Our partners Awqaf New Zealand suppliers in New Zealand observe halal standards throughout the food preparation and packaging process. Several of them are also charitable endowments. By pioneering cooperation between Islamic and non-Islamic endowments Salma is providing a framework for ethically-based institutions to collaborate for the benefit of all. Source: https: //www. salmaaid. com/

What we have now … 5 of 13 ISRA Halal Verification Final Report Click to Download ISRA Consultancy latest updated Report (36 MB)

What we have now … 6 of 13 World 1 st Awqaf Sukuk Industry Workshop Kuala Lumpur Industry Workshop 18 th August 2016 @ Pullman Kuala Lumpur

What we have now … 7 of 13 World 2 nd Awqaf Sukuk Industry Workshop Dubai Industry Workshop 13 th October 2016 @ Dubai Airports Freezone Authority (DAFZA)

What we have now … 8 of 13 Awqaf International Organisation (AIO) Dubai, UAE, Oct 12, 2016: In line with the directives and support of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai • • • AIO aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum in enhancing Dubai’s position as capital of Islamic economy The initiative enhances the role of endowments as one of the most important social and economic development tools AIO unifies all efforts to build a global ecosystem for endowment investments Source: http: //m. dubaiprnetwork. com/pr. asp? pr=114197

What we have now … 9 of 13 ISRA Council of Scholars Approval

What we have now … 10 of 13 3 rd Awqaf Sukuk Industry Workshop Madinah, Saudi Arabia Workshop 27 Dec 2016

What we have now … 11 of 13 4 th Awqaf Sukuk Industry Workshop Edmonton, Canada Workshop 13 & 14 Feb 2017

What we have now … 12 of 13 Awqaf Sheep Milk Farming Model

What we have now … 13 of 13 3 rd Waqf Core Principles Yogyakarta, Indonesia – 30 th of March 2017 Organised by Central Bank of Indonesia, Awqaf Indonesia and Islamic Research and Training Institution (IRTI), Islamic Development Bank (IDB) Attended by 8 countries including the world bank

SMART Waqf Shari’ah Anticipated Risks Management This is the most significant future step Public Perceptions Islamic Capital Market Authorities This is where the challenge & innovation are needed This is expensive but easy to achieve Engineering! We did it! Source: https: //www. linkedin. com/pulse/big-four-risk-management-leader-erisa-fiduciary-largest-dave-chase n We are planning to tour the EU and North America to build up a positive public Shari'ah perceptions via n Specialised workshops with local Shari’ah scholars Specific community events on “Temporary Cash Waqf & Sukuk”

What is next? World’s 1 st Awqaf Sukuk Ø Identify potential obligor(s)… Ø Identify potential Issuer(s)… Ø Talk to potential Arranger(s) and Guarantor(s)… Ø Consult with potential Awqaf & Sukuk players… Ø Organise Regional Awqaf Sukuk Industry workshops… 1. 2. 3. 4. Singapore, August 2017 London, UK in November 2017 Paris, France in November 2017 Sydney Australia in December 2017 Ø Submit the 1 st Awqaf Sukuk Prospectus to the Securities Commission Malaysia… This process will take 12 to 18 months from now

Conclusion We are currently working on issuing a US$1 billion Joint with Awqaf Sukuk between Awqaf Canada & Awqaf New Zealand To establish large scale “Organic Sheep Dairy Farms” Islamic Social Finance Requires Leadership Please help Awqaf New Zealand Turns Your Qurbani wool & skin into Awqaf Revenues Thank You Email: info@awqafnz. org