Islamic Finance
Charitable Waqf
September 30, 2022
Islamic Finance
Haram
September 30, 2022

A type of wakaf (waqf) whose proceeds are used to serve a specific group of individuals (beneficiaries) such as students, travelers and wayfarers, expats, the poor and the needy, etc. In this sense, wakaf aims to address the needs of a specific group of society. Charitable wakaf may also aim to serve public interest (maslahah a’amah), i.e., the interest of the public at large (not necessarily that of of specific group).

The property given as endowment (mawkoof/ mawqoof) will remain a wakaf for perpetuity. That is, it cannot be disposed of either by the wakaf donor/ founder (waqif) or beneficiaries.

Charitable wakaf is also referred to as philanthropic wakaf or wakaf khairi/ wakaf khayri.

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