A waqf is a voluntary, permanent, irrevocable dedication – in cash or kind – to Allah. Once a waqf, it never gets gifted, inherited, or sold. It belongs to Allah and the corpus of the waqf always remains intact. It is a perpetuating charity that may benefit the one who bequeaths it even after death! The fruits of the waqf may be utilised for any shari’ah compliant purpose. Farms, buildings, or shares may be designated as waqfs. Only the income generated (rental or profits) from the capital investment is utilised for funding sustainable community and social development projects or programmes. This income can be used to fund education, health care, transportation, or other activities in perpetuity. While a waqf is voluntary, there are immense benefits and blessings a Muslim will incur by setting up a waqf.

Once an asset is designated as a waqf it becomes bequeathed and the former owners are no longer allowed to use it. Only the people for whom this asset was bequeathed such as the destitute, poor, students, etc. may now benefit from it. Waqf is an established part of the Islamic tradition. Umar bin Khattab got some land in Khaibar and he went to the Prophet (ﷺ) to consult him about it saying, "O Allah's Messenger (ﷺ) I got some land in Khaibar better than which I have never had, what do you suggest that I do with it?" The Prophet (ﷺ) said, "If you like you can give the land as endowment and give its fruits in charity." So `Umar gave it in charity as an endowment on the condition that it would not be sold nor given to anybody as a present and not be inherited, but its yield would be given in charity to the poor people, to the Kith and kin, for freeing slaves, for Allah's Cause, to the travellers and guests; and that there would be no harm if the guardian of the endowment ate from it according to his need with good intention, and fed others without storing it for the future." (Bukhari).

Waqf as a form of charity has numerous special benefits. These include ethe following:

·        It is a deed that benefits an individual even after death. The Messenger of Allah (ﷺ) said, "When an individual dies, his deeds come to an end except for three things: Sadaqah Jariyah (perpetuating charity); a knowledge which is beneficial, or a virtuous descendant who prays for him (for the deceased)"(Muslim).

·        It is constant form of funding. Funding for charitable and broader community-based initiatives may be inconsistent and irregular. A benefactor of a charitable cause may experience a change in fortune or may give in to the greed for wealth. Alternately, the general economic situation may change. These are some of the situations that may cause donations to dry up. The establishment of a Waqf would mean that you have a stable source of income for these charities.

·        Forward looking. Waqf encourages people get used to thinking of the future and planning for it. The individual who bequeaths a waqf would consider the needs of future generations by virtue of a waqf being a perpetuating charity and not merely meant to deal with short-lived present necessities. This broader conception of what a waqf is makes it a superior form of poverty alleviation and community support than the conventional taxation system.

Allah Knows Best