I’d like to know the difference between Islamic Waqf and the Endowment or Trust Fund that is currently being promoted over the world?

Question

Waqf refers to the act of freezing capital or property and not allowing it to be sold, given, inherited, or otherwise disposed of, with any income or earnings going to the person who established the Waqf, for charitable purposes and the like. Waqf is best used for benevolent reasons, such as charitable projects, because the benefit is guaranteed rather than only hoped for. Waqf money may be disposed of in ways that are approved by Shariah to support the growth of the Islamic economic system, allowing Waqf monies to be utilized to revitalize the Islamic economic system.

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Al-haqq 5 months 2022-07-07T07:58:54+00:00 0 Answers 0 views