Students Dormitory WAQF Project

Aim:

We at Hope Foundation for Education (HFE) believe that education is an essential element of the development of any society. It is even more essential for societies in conflict zones. The primary goal of this project is to invest in youth education and empowerment to enable them to build their future career and hence contributing to reducing poverty and dependence on foreign aid assistance. Sponsoring disadvantaged female and male youths and empowering them to have access to higher education is a strategic goal for a better life for them, their families, and communities at large.

Conflict zones:

People in conflict zones suffer from shortages and inaccessibility to basic needs and services. Relief activities usually address vital needs and shelter for displaced people and refugees. On the other hand, less attention was given to providing education for the new generations suffering from these conditions. The targeted conflict zones include Yemen, Occupied Palestinian Territories, Palestinian refugee camps, and Syria. Supporting the youth in these conflict zones through facilitating education can enable them to pursue their education and become productive members of their society, helping themselves, their families, and their communities.

A brief overview of the Project (Importance and Justifications):

This project aims at supporting and empowering 200 needy students. The beneficiaries are going to be selected according to strict social criteria. The beneficiaries come from various fields of study: medicine, nursing, education, engineering, IT, science, arts, business ... etc. Sponsoring these students aims to enable them to complete their higher education and to become economically and socially self-dependent.

Sustainability:

This project is one of the best ways to help needy students pursue their studies and alleviate the burdens on their families who care about their education. Helping these students is an investment in human resources and gives them a chance to support their families and develop their society after graduation.

The orphans, students with disabilities, and needy outstanding students will be selected. Supporting poor students also means supporting the educational organizations in the targeted areas and helping them to continue providing their valuable services.

Background of the Students Dormitory WAQF Project:

In May 2018, a request to the Islamic Development Bank (IsDB) was submitted by (Hope Foundation for Education) to consider financing the cost of the Purchase of a Student Hostel in Eskişehir/Turkey. This Waqf project was supposed to be used as a sustainable source of income to support its activities. The project occupies an area of (7,460 m²). Five hostel buildings exist on it with a total built-up area of 15,590 m², and a capacity of 1000 students. The Hostel complex was constructed between 2014 to 2016 and started operation in 2017. The hostel complex is currently rented to the Turkish Ministry of Youth and Sports for 15 years starting January 2017. The income of the hostel will generate a regular cash flow for the Waqf and will be used to expand the foundation’s educational activities focusing on university students in unprivileged areas.

Project cost:

The project was estimated to cost 5.4 million Dollars. IsDB contribution was US$ 3,800,000 (Murabaha loan). The contribution of Hope Foundation for Education was US$ 1,600,000. The amount reimbursed up to date is  US$ 1,084,800, and the remaining is US$ 4,339,200 (24 payments – semiannual).

Gain Sadaqah Jariyah:

“When a man dies, his deeds come to an end except for three things: sadaqah jariyah (continuing charity), knowledge which is beneficial, and a virtuous descendant who prays for him” [Muslim]

May Allah accept all your good deeds and grant you the highest grade in Jannah. We highly appreciate any support and contribution.