Sentences with phrase «poor as a conduit»

Not exact matches

The waqfs were created for a great variety of services, such as the building and upkeep of water conduits, fountains, wells, roads, sidewalks, bridges, kitchens for the distribution of free meals, guest houses, homes for widows, schools, libraries, mosques, tekkes, cemeteries, open — air places for prayer, caravansaries to lodge full caravans of men and animals, clock - rooms for telling time, bakeries for distributing bread and cakes to the poor, dispensaries, hospitals, public baths, shaded land on the roadside.

Both SachsenLB and IKB operated companies called conduits that issued short - term paper and then reinvested the proceeds in higher - yield, longer - term debt — such as the residential mortgage - backed securities that have declined in value as poorer Americans default on risky mortgages.