Finterra Ventures

  As the launch of FINTERRA’s WAQF Chain grows nearer, I am constantly reminded about the origins of Islamic Finance and how it positions itself as a contributor to society through its charitable activities. An article from the Global Finance magazine maps out key attributes of Islamic Finance and why it is gaining traction the world over. Most people know that Islamic finance is a way of performing financial transactions and banking while respecting Islamic law or  sharia . The same people would be surprised to know that Islamic finance hardly existed 30 years ago. Yet today it is a $2.2 trillion industry with hundreds of specialised institutions located in more than 60 countries. Islamic banks are by far the biggest players in the Islamic finance industry and account for $1.5 trillion in assets. According to a 2017 Reuters report, Islamic bank assets should reach $2.7 trillion while total sharia-compliant assets are expected to grow to $3.5 trillion by 2021....

Are you sure your income is Halal? Is your money clean? How sure are you that your riches came from Shariah compliant investments? These are questions asked by, and to Muslims a lot. In today’s world, where the Halal (permissible) industry is booming, Muslims are provided with ample choice to make sure that their income is generated through halal sources. Halal food, halal financing, and even the halal Tourism industry has been growing over the years, creating a niche market for a group of audience that wants their lifestyle to be rid of riba (interest), maysir (gambling), gharar (uncertainty) and other haram (prohibited) elements.     In order to cater for sustainable societal development, Finterra Technologies have developed a WAQF Chain platform that allows its users to donate to charitable, Waqf Causes. These Causes, published by respectable NGOs allows users to donate to Causes that target communities in need, that includes the essences of Waqf which are perpetuit...

  Sometimes, you overhear some of the most surprising and fascinating conversations when you are at the bus stop. For example, I once overheard a conversation about how the cost of land is increasing thus, affecting many hard workers such as farmers. It was an interesting topic, but I must say I was not expecting one of them to say, “maybe they should just get Waqf land, it solves all the problems”. Silently, I agreed. But I was a bit taken back with the response to said statement. “True, but do you think the owners of these Waqf land wants to just give it away? They just keep the land so that they can one day sell it at a higher price. They don’t care if it stays idle without benefitting anyone.” Strangely, the other person agreed to this statement. This conversation made me ponder; do they think a land once registered as a Waqf is still ‘owned’ by someone? Is it possible that majority of people do not know how ownership of Waqf land works? Maybe they know the basic of Waqf lands,...

  For those who do not know, Waqf is the act of donating assets like land, buildings, cash Waqf and other instruments for the benefit of the community. But, in my experience, people today still do not know why doing Waqf is good. Well, here’s my list of top 6 reasons: 1.      It is SO easy! Cash Waqf is a kind of Waqf which aims to promote service to mankind by establishing Waqf using money. Ever since the practise of cash Waqf has gained popularity among the Islamic community, it has been used to solve the issue of liquidity because cash Waqf helps finance the development of Waqf projects to generate further growth. Considering the potential and flexibility which comes with cash Waqf, it is significantly easier for anyone to donate to any cause. A successful new platform which has emerged is the  WAQF Chain . Developed by Finterra as one of its flagship products, it is a global platform which caters to cash Waqf on blockchain. This blockchain-based pla...