Waqaf – Road to Jannah 1.0
What is Waqaf (Endowment)?
Definition: Waqaf means to stop, contain or to preserve.
In shariah, a Waqaf is a sadaqah jariyyah, a voluntary charitable endowment, from ones’ personal belongings or wealth in the form of cash / property for shariah compliant causes only.
Its purposes must be:
- Pious
- Religious
- Charitable
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Once it is dedicated as a Waqaf, the ownership of the asset is transferred to Allah SWT allowing a perpetual use for charity.
The Prophet s.a.w. said; “When the son of Adam dies, his actions come to an end except for three; sadaqah jariyah (ongoing charity), knowledge which brought benefit and a pious child who makes supplication for him.” Hadith narrated by Abu Hurairah r.a. (Riwayat Imam Muslim) Syarat
Waqaf Conditions
1. Should be made perpetual.
2. Waqaf intents should be clearly stated and invalid if not stated.
3. The Waqaf property that has been intended (for Waqaf) is effective with immediate effect and cannot be withdrawn. Its objective is also not allowed change and shall not be subject to conditions except through implementation of istibdal.
Image: http://sejutaquran.org/
Types of Waqaf
1. Waqaf Al-Ahli (Waqaf Khas / Family Waqaf)
2. Waqaf Al-Khairi (Waqaf Am/ Public Waqaf)
Under Islamic law the beneficiaries of a Waqaf can be Waqif himself, family and descendants of the Waqif, mosques, institutions and organisations and general public.
Tax Deductible (for Malaysians)
All cash donated are tax deductible under Section 44(6) Income Tax Act.
Reference:
**Istibdal is a topic in the field of Islamic endowment (waqf) which means exchanging something with something else
http://www.awqaf.ae/Waqf.aspx?Lang=EN&SectionID=13&RefID=857
http://www.iium.edu.my/ief/product-services-1
https://www.wakaf.sg/About/Religious-Aspect-of-Wakaf.html
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