Search
Generic filters
Filter by Categories
Accounting
Banking

Islamic Finance




Waqf al-Fuduli


Arabic (وقف الفضولي) for endowment by an uncommissioned donor or founder of waqf (waqif). The uncommissioned waqif unilaterally acts on behalf or in the name of the real waqif (the owner of mal mawqoof– the funds or assets assigned as waqf) without the latter’s consent ab initio. However, this endowment is not considered valid unless the owner’s approval is solicited and secured. In which case, the two become in a principal/ agent (muwakkel/ wakeel) relationship. Otherwise, the waqf is null and void (batil).



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    Your email address will not be published.*