Читать книгу Introduction to Islamic Banking and Finance - M Kabir Hassan - Страница 19

Waqf is one of the important institutions in Islamic social finance. In Waqf, the owner of some asset or property permanently dedicates an asset along with its usufruct and benefits to a particular social cause voluntarily. This enables the society at large to benefit from Waqf assets. In modern practice, Waqf can be established through movable as well as immovable assets. Using liquid assets like cash, Waqf can be used to mobilize funds for establishing institutions like schools and hospitals. It can also enable the divisibility of the social investments in Waqf and enable people at large to contribute to Waqf even if they do not wholly own a valuable tangible fixed asset or property. Table 1.5 gives the distinctive features of Waqf in comparison to Zakat and Sadaqah.