Waqf is an endowment made for religious or charitable purposes. This endowment can be in the form of land, buildings, cash, share, business etc. In other words you can give land, buildings, cash, share, business etc., as charitable endowment.
Revenues generated from these endowment are then distributed to beneficiaries. The beneficiaries of these endowments can vary depending on the nature of the waqf. Here are some common beneficiaries of waqf:
A waqf can be created to support the maintenance and upkeep of a mosque or to build a new mosque.
• Schools and educational institutions
Waqf can be formed to support schools, colleges, universities, and other educational institutions to provide education to the needy.
• Orphanages
Waqf can be utilized to support orphanages and provide care to orphans and underprivileged children.
• Hospitals and healthcare facilities
Waqf can be used to establish to support hospitals, clinics, and other healthcare facilities and provide healthcare to the needy.
• Social welfare projects
Waqf can be used to support social welfare projects such as providing clean drinking water, housing for the poor, and disaster relief.
• Libraries and research centers
Waqf can be used to establish libraries and research centers to promote education and knowledge.
• Religious scholars and students
Waqf can be used to support religious scholars and students to pursue their studies and promote Islamic education.
• The poor and needy
Waqf can be used to provide financial assistance and support to the poor and needy.
• Charitable organizations
Waqf can be established to support charitable organizations that work towards the betterment of society.
Note that the above list is not all, and the beneficiaries of waqf can vary depending on the nature and purpose of the endowment.
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