The well of Uthman ibn Affan (ra) still flows after 1400 years and continues to benefit millions through its endowment
During the life of the Prophet (peace be upon him) Uthman gave offered a well he purchased as a waqf (an estate endowment in Allah’s name) that the public can use for their benefit without condition. The endowment land around the well also had some date palms planted on it and they began to grow over time. The Ottomon Empire began taking care of the date palms and later expanded through further cultivation by the Saudi government. The revenue from the date palm sales has grown exponentially over time and has been reinvested in real estate purchases in Madina, including areas around the Prophet’s mosque. Saudi Government decided to built a Waqf Hotel with the revenue and it is estimated to bring in 50 million Saudi Riyal every year (roughly $14 million/year). Half of the proceeds from the waqf which is still under the name of Uthman bin Affan are distributed to the poor and the other half is reinvested back into the endowment. This is the impact of giving.
Watch a recording of our live webinar with American Muslim Fund and Wahed Invest to learn about endowments and how you can also become a part of the lasting legacy like Uthman (Allah be pleased with him).
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