characteristics of waqf :
characteristics of waqf : Islam proclaims foundational human values that basically aim at spreading principals of brotherhood and cooperation among humanity.
From this perspective, several terms and guidance on achieving economic development in particular emerged to highlight the positive impact of such an economic take off on various aspects in life.
Waqf is a form of charitable giving that involves donating a fixed asset which can produce a financial return or provide a benefit.
Waqf is considered a Sadaqah Jariyah as long as the original donation is preserved intact allowing it to continue to help others year after year.
Types of Waqf in Islam :
There are three types of Waqf in Islam:
Religious Waqf:
Awqaf like mosques are confined to providing revenues to be spent on their development and maintenance.
Philanthropic Waqf:
Also called Waqf Khayri, this type of waqf aims at confining properties and money to support various charity causes and sectors such as health, education and many more areas.
Family Waqf:
This form of waqf is dedicated to the family members of the donor.
Then If there aren’t any family members, the revenues and benefits of the Waqf are given to the vulnerable.
Thus, waqf combines between the act of saving and the act of investment.
Waqf in Sunnah :
Narrated Ibn `Umar: When `Umar got a piece of land in Khaibar, he came to the Prophet (ﷺ) saying :
“I have got a piece of land, better than which I have never got. So, what do you advise me regarding it?”
The Prophet (ﷺ) said, “If you wish you can keep it as an endowment to be used for charitable purposes.
He also could feed his friends without intending to be wealthy by its means.” [Sahih al-Bukhari 2772].
Equal to a Sadaqah Jariyah, the rewards of waqf continue year after year and in the afterlife for Abu Hurairah (May Allah be pleased with him) reported:
“The Prophet (pbuh) said, “When a man dies, his deeds come to an end except for three things: Sadaqah Jariyah (ceaseless charity); a knowledge which is beneficial, or a virtuous descendant who prays for him (for the deceased).” [Muslim].
Famous waqf in the Middle East include:
- Al Azhar Mosque and University in Egypt .
- Al-Andalus Mosque in Morocco.
- Zaytouna University in Tunisia .
- King Saud University in Saudi Arabia.
The International Waqf Fund Helps you to Revive the Sunnah of Waqf :
The benefits of the sunnah of waqf are many.
And this is why the International Waqf Fund has been working on investing your donations.
And using the returns to fund charity projects that benefit the vulnerable all over the world year after year.
Our Waqf Shares vary in type to help uplift several sectors such as health, education, orphan sponsorships and others.
When you donate a Waqf share, we invest it in Sharia compliant investments.
In addition to our Waqf Shares, you can donate any amount of money as a Sadaqah Jariyah and we will invest it like we invest a Waqf share.
Learn more about the charity projects funded by your donations here.
Donate a Waqf share Today!
