Waqf in Shariah: basic rules and applications

Mazen El Khatib

Chapter 17 in Islamic Wealth Management, 2017, pp 311-319 from Edward Elgar Publishing

Abstract: Waqf is an inalienable trust which is a perpetual endowment made by a living person for reason of piety that allocates the usufruct of that endowment to specific entities or individuals. There were many kinds of waqf that include but are not restricted to establishing houses of worship, centres of learning and hospitals as well as shelters for the needy. The money can be spent for building roads, caring for the poor, the needy and travellers. They even covered the funding of war efforts and caring for animals. Waqf is based on compassion, communication, social insurance and empathy among Muslims and even to benefit non-Muslims. This chapter discuss the concept of waqf from the shariah perspective, the common components of a deed, the restrictions and categories of waqf.

Keywords: Asian Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2017
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