This mini guide was extracted from a very, very small portion of our special ebook called “Zakat Made Easy”. The A-Z of Zakat, made easy! If you enjoyed reading this article, do give our ebook some love! Zakat is not just a duty; it’s a privilege and an opportunity to make a positive difference
Sustainability has become a mainstream issue across all financial sectors, accelerated by the COVID-19 pandemic. This is especially true in Islamic finance, which includes intrinsic factors such as being ethical, sustainable, responsible, transparent, green, and equitable. As financial intermediaries, Islamic financial institutions (IFIs) have a natural responsibility to do more — they must have a
“Ulama” scholars are the inheritors of the Prophets and Messengers of Allah. With that appreciation in mind, the Singapore Islamic Scholars and Religious Teachers Association or “Persatuan Ulama dan Guru-Guru Agama Islam Singapura” (PERGAS) is launching the PERGAS Ulama Legacy Endowment Fund or Dana PERGAS Endowmen Legasi Ulama (PERLU) to ensure the sustainability and empowerment
WALKING THROUGH WAQF – PART 3 Types of Waqf A waqf can be divided into two types which are waqf al-Khairi and waqf al-Dhurri. 1) Waqf al-Khairi Waqf al-Khairi is created from the very beginning for a virtuous and charitable purpose for the sake of Allah. It can be subdivided into 2 types in which
The 4 Pillars of Waqf In waqf, there are 4 pillars which are: The Founder (واقف) The Waqf Asset (موقوف) Beneficiaries (موقوف عليه) Expression ( صيغة) Conditions for the Founder (Waqif) He must own the property at the moment of the endowment. He must have the legal capacity (mukallaf) for disposing of his property. He
The term waqf literally means to prevent (habs) or restraint. In legal terms, it means to protect a thing or to prevent it from becoming the property of a third person. In definition, waqf refers to the endowment of an asset or property by a Muslim to the ownership of Allah for religious, charitable, and
Don’t believe it? Yes, it’s true! There is no direct mentioned of waqf in the Quran. Instead, waqf which refers to a religious endowment i.e. a voluntary and irrevocable dedication of one’s wealth or a portion of it – in cash or kind, and its disbursement for Shariah compliant projects is mentioned in several hadiths
Waqf is an endowment made by a Muslim for a religious, educational, or charitable cause. It is an essential tool towards achieving socio-economic development, and if properly implemented, it can play a major role towards reducing unemployment and poverty eradication, eventually contributing towards the socio-economic progress of Muslim communities. It is a type of institution