The Mustafa Prize Investment and Endowment Fund (MPIEF)
In order to finance the Mustafa Prize and develop science and technology in the Islamic world enjoying the honorable tradition of endowment, the Mustafa Science and Technology Foundation (MSTF) has sought to attract, organize, and target the resources provided by the benevolent benefactors in science and technology. Following this scientific-cultural movement, the MSTF tries to utilize all the capacities available in the Islamic world and employ various financial instruments under the auspices of ‘votive offering [Nazr] and endowment’ in science and technology.
Backing the Prize financially and spiritually, the individual and legal benefactors, as members of Khadem Al-Mustafa Community, known as “pioneers of endowment development to science and technology,” are taking giant steps to promote the level of science and technology in the Islamic world and to help achieve prosperity, security, and health worldwide.
In line with MSTF’s efforts to develop cooperation with the pioneers of endowment development to science and technology, Khadem Al-Mustafa Community was established adopting the motto of “Each Muslim Has One Share to Develop Science and Technology in the Islamic World.” In a spirit of goodwill and under the name of the Holy Prophet—heavenly, glorious, and splendid is his name—the members of this community cooperate with the MSTF in realizing its goals which aim to create a common discourse for development of endowment in science and technology. The members also provide mutual services and contribute to the expansion of this community in the Muslim world to have the objectives of the MSTF fulfilled.
So far, prominent individuals of the Islamic world as individuals and legal entities including scholars and technicians, clerics, artists and media persons, entrepreneurs, and those interested in developing science and technology, along with influential figures in the Islamic world have become members of this community which exceeds 300 members.
Contributions are made to the MSTF through potential and actual opportunities in the form of scientific Nazr and scientific endowments, such as donating real estate, buildings, shares, the right to intellectual property, income from services, and cash donations by individuals and legal entities.
In fact, Khadem Al-Mustafa Community introduces a network of members who interact with each other and the MSTF, developing cooperation among themselves and, in the Islamic world, among various levels of society—school students, university students, faculty members, young scientists, prominent scholars, and scientific, technological, and knowledge-based centers. They develop their achievements in the Islamic world and within the international arena, gaining privileges and creating mutual value within the network.
As a means of attracting financial resources from enthusiasts in science and technology development in form of Hiba (gift) or Qardh al-Hasan (interest-free loan), the MPIEF pursues the prospect of becoming the largest investment fund for science and technology development in the Muslim world. The resources devoted by science and technology benefactors will remain as fixed capital and permanent investment in the fund, and the profits from this financial institution will be invested in line with the mission of the MSTF.