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20th century was the century of bedlam. World witnessed umpteen massive events from various political mayhems that lead to topple the established governments and perceived impregnable despots; natural calamities that carried off human beings in millions; two world wars that gave new geographical dimension to planet earth and nonetheless, the severe economic depression that left millions people unemployed and myriad starved to death. One of the foremost off shoot of previous century’s chaos was Capitalism – a new economic order. However in the last few decades this new economic order has also been garnering a lot of flaks .e.g. exploitation of labor, social inequality, and unfair distribution of wealth, market monopoly and imperialism. Consequently, a debate has been ensued that capitalism is widening chasm between riches and poppers therefore, the time has arrived to revert back to Islamic ways of forming an economic structure and doing business. One of the prominent cornerstones of Islamic teachings is charity – looking after those who cannot meet their ends conveniently. Laying foundation of charitable trusts is one organized and adroit way of doing this noble deed of helping needy people. In such types of trusts, donors donate their assets to a group of directors or trustees. This body of trustees supervises all the activities and makes all sorts of decisions. This body of trustees can hire further employees or take services of consultants to make important decision. All these activities performed by the trust are for social cause, personal gain is never an aim. Such trusts and their donors conduct these activities either to assist one specific segment of society or to help in general. It depends more on the region where that trust is operating. Third world countries are struggling big time with their economies and people are suffering from massive corruption, unequal distribution of wealth and unemployment. Oceans of poverty and misery are even deeper. Hence, trusts working in such countries emphasize most on making people self sufficient. One way towards this aim is providing them non usury loans to help them establish little business and enable them to make money at least enough to earn bread. One such example is Muhammad younis of Bangladesh who established a chain of grameen banks, microfinance institution, and extricated numerous people from poverty and misery. Situation in first world countries is bit different thus, aims and goals of working there are also different. Economies are stable in comparison to Asian countries. People who are unemployed and struggling are looked after by state in form of unemployment benefits. Expatriates, especially Muslims, in those countries are more concerned about the collapse of social structure and family system they are facing right now. Young generation is not at all adhere to customs and traditions nor disposed towards their religion and turning into apostate. Hence, charitable trust over there are mainly focusing on forming Islamic schools and community training centers. Muslims families are dejected over the European life style of their new generation. These schools and training centers are helping young generations to revert back to their Islamic ways and also creating religious harmony and promoting tolerance between people belong to different beliefs.
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charitable trusts, islamic schools, community training,
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