Arabic (صكوك الوقف) for endowment sukuk; sukuk which use waqf (waqf assets – mawqoof) as underlying asset. In this sense, waqf is considered a standalone investment asset class, and funding (which is raised through sukuk issuance) is used in order to restore and repair old real estate properties and develop new real estate properties into market-rated properties. The sukuk will pay its holders out of the revenues generated by the waqf assets/properties.
May 27, 2024