All About Waqaf
In Islamic jurisprudence, a waqaf is the dedication of a specified asset (mawquf ) by a settlor (waqif ) into the administration of a custodian (mutawalli ) through a legal instrument (waqfiyyah ) such that the income or usufruct of that asset benefits a beneficiary (mawquf alaih ) or is used for a stated purpose.
A waqaf is comparable to an endowment, trust or foundation except that it must comply with the Shariah rules and principles.
A waqaf is comparable to an endowment, trust or foundation except that it must comply with the Shariah rules and principles.
The messenger of Allah (s.a.w) said: when a servant of Allah dies, his/her account of good deeds comes to an end, except three things: perpetual charity (sadaqah jariya), beneficial knowledge or a righteous son/daughter who prays for him/her.
Narrated by Abu Hurairah R.A.
Definition of Waqaf
Waqaf means to stop, contain or to preserve. In Shariah, a Waqaf (plural: awqaf) is a Sadaqah Jariyyah (recurring/ongoing charity), a voluntary charitable endowment, from one’s personal belongings or wealth in the form of cash/property for Shariah compliant causes. Once it is dedicated as a Waqaf, the ownership of the asset is transferred to Allah s.w.t allowing a perpetual use for charity.
Waqaf Pillars
Waqif
The party who contributes the asset.
Mauquf
The Waqaf asset.
Mauquf ‘alaih
The beneficiaries.
Sighah
The forming of Waqaf.
Opportunity for you to perform Waqaf
Dana Wakaf Al-Bait
An initiative under MyWakaf by Association of Islamic Banks Malaysia (AIBIM)
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Wakaf Air
An initiative under Yayasan Waqaf Malaysia
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Tabung Wakaf Masjid Hijau
An initiative under Yayasan Waqaf Malaysia
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myWakaf
A collaboration between banks under Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) and state Islamic Religious Councils.
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