Page 29 - ECF_Thrive_Summer2025_flipbook

Generosity
Education
Diversifying Endowments
Halal (permissible) investment portfolio
By ECF STAFF
ENDOWMENTS ARE ONE of the most
effective tools for donors to provide
long-term support to causes that
are important to them. However, for
some donors, traditional investment
practices don’t align with their values.
This means that some cultural groups
have been left out of fully participating
in this impactful way to give.
In 2022, Edmonton Community
Foundation’s (ECF) CFO, Chris
Quinn, partnered with Riad Assaf
of TD Wealth to develop a Shariah
Compliant Investment Portfolio for
Muslim donors. This was the first of its
kind in Canada and last year, the pair
was recognized for this work by the Al
Rashid Education Foundation.
We spoke with Quinn and Assaf
about this new, inclusive way for donors
to support the charitable sector and
what makes a Shariah Compliant
Investment Portfolio unique.
Chris Quinn
Riad Assaf
ECF: What is an endowment fund,
and how does it work at ECF?
CHRIS QUINN: An endowment fund
is a permanent fund established
by donors to support causes they
care about. At ECF, these funds are
invested, and a portion of the value
of the fund is granted to charities
every year. The rest of the earnings
are reinvested to ensure the fund
continues to grow and support the
community for generations.
ECF: What is ECF’s Shariah
Compliant Investment Portfolio?
RIAD ASSAF: A Shariah Compliant
Investment Portfolio is an investment
approach that aligns with Islamic
principles. For Muslim donors who
want their charitable giving to reflect
their values, ECF offers a dedicated
portfolio that invests according to
these guidelines.
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