What is meant by waqf in Islam?
Awqaf (also spelled awkaf, singular waqf/wakf) is an Arabic word meaning assets that are donated, bequeathed, or purchased for being held in perpetual trust for general or specific charitable causes that are socially beneficial. In many ways, the concept of waqf is similar to the Western concept of endowment.
What is called waqf?
Waqf an Arabic word, which literally means tying up or dedication (to keep a property in safe custody protecting it free from private ownership). Personal property is endowed in waqf for religious, educational, or any other benevolent purpose under specific terms and conditions.
What is waqf purpose?
Through waqf, long-term assets that generate income flows can be created and preserved. These assets obviously help the process of production and creation of wealth. Waqf can play an important role in poverty alleviation by specifically targeting the poor as major recipients of its benefits.
What is the basic root of waqf?
The literal meaning of both roots is “stop,” “block,” or “suspend.” In the context of the endowment institution, these terms refer to the legal situation of the property (al-ʿayn ), which by the act of endowing is blocked from taking part in any commercial transaction, while its yields (al-manfaʿah ) are devoted to …
How does a Waqf work?
The waqf provided a legal way to circumvent the Sharīʿah’s requirement that an individual’s estate be divided among many heirs. Through a waqf, an individual could endow an institution or group with all or part of his estate, in perpetuity, before his death.
What is the difference between sadaqah and waqf?
Waqf means stand still, hold still, not to let go. Waqf implies holding from consumption and sale and not to let go. Muslims are encouraged to create sadaqah that continues generating benefits/revenues for use in the targeted objectives.
How does a waqf work?
Who can create a waqf?
The second essential of a valid wakf is that it should be created by a person professing Muslim faith. By ‘person’, is meant, a person who has attained the age of majority under the Indian Majority Act, i.e., 18 years and who is of sound mind. Such a person is competent to dedicate the whole or part of his property.
How many waqf are there in Quran?
Out of 30,000 waqf certificates documented by the GDPFA (General Directorate of Pious Foundation in Ankara), over 2,300 of them were registered to institutions that belonged to women.
Who can make a Wakf?
What is Wakf explain essentials of valid Wakf?
The essential conditions for a valid waqf are given below: (1) There must be a permanent dedication. (2) The founder of the waqf must be a competent person. (4) The object of the waqf must be religious, pious or charitable, under Muslim law.
What is the difference between Waqf and sadaqah?
Waqf implies holding from consumption and sale and not to let go. Muslims are encouraged to create sadaqah that continues generating benefits/revenues for use in the targeted objectives.
What does the word waqf mean in Arabic?
Waqf, in the Arabic language, means to stop, contain, or preserve. In Islamic terms, waqf refers to a religious endowment i.e. a voluntary and irrevocable dedication of one’s wealth or a portion of it – in cash or kind (such as a house or a garden), and its disbursement for shariah compliant projects…
Who was the first to use waqf in Islam?
In addition, Ibn Umar (RA) said the Prophet (PBUH) first encouraged the concept of Waqf in islam when Umar (RA) asked the Prophet “Allah’s Messenger, I have acquired land in Khaibar. I have never acquired more valuable for me than this. Thus, what do you command me to do with it?”
Can a non-Muslim be a beneficiary of the Waqf?
The beneficiaries must not be at war with the Muslims. Scholars stress that non-Muslim citizens of the Islamic state (dhimmi) can definitely be beneficiaries. The beneficiaries may not use the waqf for a purpose in contradiction of Islamic principles.
How does a waqf work in shari’ah?
In shari’ah, a Waqf is a voluntary, permanent, irrevocable dedication of a portion of ones wealth – in cash or kind – to Allah. Once a waqf, it never gets gifted, inherited, or sold. It belongs to Allah and the corpus of the waqf always remains intact. The fruits of the waqf may be utilised for any shari’ah compliant purpose.