GLOBAL WAKAF PROJECTS
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WHAT IS WAKAF?
Wakaf is an Arabic word which may be translated in simple English as endowment. A simple definition of wakaf is the dedication of a property (can be fixed asset or cash) by a person through a will or otherwise for pious purposes, religious purposes or for charitable purposes. The second type is Wakaf khas, or specific wakaf, which is a dedication for the benefit of the person's family members, offspring and their descendants.
In other words the property is given away for the benefit of whoever as desired by the donor (the correct term for the donor is wakaf). Other than land or building, a person may also wakaf useful belongings or objects which can be of benefit to other people. For example, a piece of carpet or chair can be made wakaf to the mosque.
This is essentially a charity or ‘endowment for life’ project aimed at encouraging Muslims to practice virtuous religious attributes. Waqaf is one of the ways of worship or a way to draw closer to Allah through the endowed wealth for benevolence and charitable acts or purposes. In case the object is not an everlasting object, then it must be ensured that it is used for as long as it remains usable.
From an Islamic perspective, Wakaf or endowment as an institution, begins with a noble intention to do good deeds for the benefit of oneself and other
"The likeness of those who spend their wealth in the way of Allah, is as the likeness of a grain (of corn); it grows seven ears, and each ear has a hundred grains. And Allah gives manifold increase to whom He wills. And Allah is All-Sufficient for His creatures' needs, All-Knower."
(Surah Al-Baqarah 2:261)