Derivatives

QFRAN

September 13, 2022
Derivatives

Collar Swap

September 13, 2022

Share

Arabic (وقف خاص) for private waqf; a type of waqf (specifically, incorporated waqf) whose proceeds are used to serve a specific group of individuals (beneficiaries) such as students, travelers and wayfarers, expats, etc. In this sense, private waqf is a form of charitable waqf (waqf khayri) addressing the needs of a specific group of society.

Private waqf (waqf khas) may also refer to waqf which serves the interest of waqif‘s children and grandchildren (hence, it is also known as posterity waqf or waqf zhurri/ waqf dhurri).

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

Leave a Reply

Related Tags

All Topics in the Letter