Legal Framework of the Institution of Waqf

Magda Ismail Abdel Mohsin, Hisham Dafterdar, Murat Cizakca, Syed Othman Alhabshi, Shaikh Hamzah Abdul Razak, Seyed Kazem Sadr, Thamina Anwar and Mohammed Obaidullah
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Magda Ismail Abdel Mohsin: INCEIF – The Global University of Islami
Murat Cizakca: Ucuncu Nilufer Caddesi
Shaikh Hamzah Abdul Razak: INCEIF – The Global University of Islami
Seyed Kazem Sadr: INCEIF – The Global University of Islami
Mohammed Obaidullah: Islamic Research and Training Institute

Chapter Chapter 1 in Financing the Development of Old Waqf Properties, 2016, pp 1-12 from Palgrave Macmillan

Abstract: Abstract Waqf is a financial charitable institution established by withholding immovable and movable properties to perpetually spend its revenue on fulfilling public or family needs, depending on the preferences of and conditions set by the founder. Once the property is created as waqf, it can never be given as gift, inherited or sold. It belongs to Allah (swt), and the waqf property always remains intact. Only its generated revenue is channelled to the beneficiaries. The main motivation for a founder to create waqf is clearly stated in both the Quran and the Sunnah.

Keywords: Muslim Society; Provide Health Care Service; Lease Contract; Verbal Noun; Continuous Reward (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-1-137-58128-0_1

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DOI: 10.1057/978-1-137-58128-0_1

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