Filter by Categories
Accounting
Banking

Islamic Finance




Family Waqf


A type of waqf (endowment) in which a person (waqf initiator/originator) designates oneself or some specified individuals as the beneficiaries of the endowment’s revenues or proceeds. However, sometimes the endowment ends up being designated for a charitable purpose. For example, a man may designate some property for himself and then for his offspring and then for a charitable purpose. This type of waqf is considered permissible by the majority of scholars (jumhur), and the stipulations of the waqf initiator are also in line with shari’a and must be duly observed.

Family waqf is also known as waqf ahli, waqf zhurri, or private endowment..



ABC
The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*