Family funds to strengthen social integration, says experts

[gallery size="medium" td_select_gallery_slide="slide" td_gallery_title_input="Family funds to strengthen social integration, says experts" ids="107876,107877,107878"] THE Ministry of Labor and Social Development recently approved a law regulating the process of establishing family funds, which seek to enhance social solidarity by helping members of the community who are facing financial hardship. Such funds have long existed in rural areas and remote towns because tribes often set up their own funds to help members of the tribe in distress. However, families who live in cities did not have access to such funds, something experts hope the new law will change, Al-Riyadh daily reports. Khalid Al-Hulaibi, supervisor of Bayt Al-Khebra Center for Social Studies and Research, said family funds are important and can reduce pressure on charitable organizations. “A family fund is usually set up by wealthier members of the same tribe or family to help the less fortunate ones. Instead of relying on charitable organizations for help, these poor family members can live on the aid given to them from the family fund,” he explained. “For example, if a member of the family goes through a financial crisis and needs urgent help, he can ask the families who set up the fund to help him out of his predicament,” he added. Endowments Al-Hulaibi said prominent families in the country should set up and run permanent funds to help their less fortunate relatives. To sustain the fund, Al-Hulaibi suggested families create endowments. “Part of the endowment can go toward constructing a residential building, for example, and the rent collected from tenants can go into the fund and help it grow,” he said while adding that he hopes the new regulations on the law, yet to be released, would stipulate that a member of a family who donates to the fund cannot reclaim the money. “This will ensure that the fund has enough money for the next generation.” Importance of family Writer and economic expert Bandar Al-Safeer said achieving financial stability is important for each family member because such stability will reflect positively on society. He cited examples of several countries that have similar rules that regulate charity funds to help the poor and support members of society with tuition for college. Nasser Al-Qarawee, Director of Saudi Center for Research and Studies, described family funds as the best project for any family because it stresses the importance of family ties and promotes social responsibility and solidary among members of the public. “Moreover, it is something recommended by Shariah, especially since it can help the elderly who cannot work anymore and do not have any source of income to live on,” he said. Unique to Muslim culture Dr. Hassan Safar, professor of political science and comparative law at Jeddah’s King Abdulaziz University, said the most important benefit of these funds is that they will strengthen family ties and social solidarity in all its forms. “We’ve seen how these funds strengthen the ties between tribe members as they rely on themselves during emergencies. I do not think non-Muslim countries have similar funds; it is something unique to Muslim communities,” he said while adding that imams of mosques should talk about the importance of family funds during Friday sermons and encourage members of the public to set up such funds.