Hello, Mr. Usman welcome to Almubark Waqf Foundation once again. I am Almubarak’s Content Creator, my name is Mr Aliyu.
“I want to learn more about waqf”, you said in our last discussion. Today I will be happy to help you learn all about waqf.
When we talk about a waqf it is term used in Islamic law that refers to an Islamic endowment made by a person.
“What do mean by an Islamic endowment?” he enquired.
Yes! An Islamic endowment involves donating a fixed or variable asset which can bring financial income or provide continuous benefit to the beneficiaries or communities.
He said “It appears that waqf is a form of Sadaqatul Jarriyah or continuous reward”.
Yes, you are right. If you donate your property or asset and people continue to benefit from it during your lifetime or after your death, Allah will continue to reward you as long as the property continues to benefit others.
Aha! This reminds me. It is not easy to achieve this continuous reward unless you entrust this to a Waqf trustee or institution that is not only trustworthy but also skilled in management, investment, development etc.
Now, this is where Almubarak Waqf Foundation which is a registered institution to manage and support Waqf endowment, comes in.
As a Waqf institution, it will deploy its capital and human resources to see that your Waqf or endowment continues to exist during your lifetime and after your demise.
“I am ready to be part of this journey”, he said. “What are the different assets or properties I can use as a Waqf?” he enquired further.
There are different properties or assets that you can use as a Waqf. The examples of these properties that you may use as an endowment are:
- land
- building
- cash
- company shares
- business investments
- etc.,
When you give these properties or assets, the properties becomes Allah’s properties which are given by you for religious or charitable purposes. It cannot be transferred or inherited by your families.
The income generated from these assets are used to support charitable purposes or causes.
“What are the purposes I could support with my Waqf?” He asked.
The purpose of Waqf can range from providing for the poor and needy, funding education, mosques, schools, hospitals, orphanages, supporting religious institutions, or other charitable causes.
This concept of Waqf has been in practice for long in Islamic societies.
“You mean this concept has a long history in Islamic societies and I’m not aware of it?” he enquired.
Yes. It has existed since during the time of the prophet, and after his demise it continues to exist.
When I learned about Waqf for the first time and discovered that this practice can be traced back to the prophet’s time I became passionate about it. I began to learn more about it. I am still learning and I will be happy to share everything I know about it or invite a scholar in our organization to shed more light on the topic.
“I will be glad to learn more”, he said.
Please, keep visiting I’ll be glad to share with you my knowledge.
“It is time to go now”, he said.
I will be glad to receive you again, thank you for your time.
When next you come I’ll share with you one instance of waqf during the prophet’s (S.A.W) time that involves Khalif Umar Ibn Kattab (r.a).