About Waqf
Waqf broadly can be of two types: Property Waqf and Cash Waqf
Waqf
A waqf is an Islamic philanthropic institution in which a donor endows a portion of their wealth or property for a charitable, religious, or community purpose, ensuring its perpetual use for the benefit of society. It serves as a significant tool for social welfare and economic development within Islamic traditions.
Cash Waqf
Cash waqf is a charitable endowment of cash for the perpetual benefit of society. The Mutawalli (executor) is entrusted with responsibility of keeping the cash endowment intact and invest the endowed amount in low-risk portfolios and disburse the profits from the investment for social welfare.
Islam encourages making Waqf treating it as Sadaqa Jariya (continuous charity) in the following hadith:
