Waqaf

Waqaf, also spelled Waqf, is an Islamic institution that involves the dedication of property, money, or land to religious purposes. The term originates from the Arabic word "waqafa," which means to restrain or stop. The concept of waqaf is deeply rooted in Islamic law and is governed by Sharia, the Islamic legal system. The primary purpose of waqaf is to support religious institutions, such as mosques, madrasas (Islamic schools), and other charitable organizations, ensuring their sustainability and continuity.

Waqaf can be established by individuals, corporations, or governments, and it can take various forms, including land, buildings, cash, or other assets. The waqif (the person or entity establishing the waqaf) retains ownership of the assets but restrains them from personal use, dedicating them to religious purposes. The income generated from these assets is used to support the designated religious institutions, providing them with financial stability and enabling them to fulfill their religious and educational missions.

Waqaf plays a significant role in the Islamic world, contributing to the preservation of religious heritage, the promotion of Islamic education, and the support of charitable activities. It is an essential aspect of Islamic finance and has been recognized as a means of fostering social welfare and community development. The management and administration of waqaf are typically overseen by a trustee or a board of trustees, who ensure that the assets are used in accordance with the waqif's intentions and the principles of Islamic law.