Can sukuk investments be given as Waqf?
Mufti Faraz Adam has spent almost a decade studying Islamic law. He completed his Islamic studies in the six-year Alimiyyah degree at Darul Uloom Leicester. He then went…Read More
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
The permissibility to designate an asset as Waqf is based on customary practice. Globally, securities are now deemed as valid Waqf assets and they have been recognised by various Shariah boards. Thus, Sukuk assets can be designated as Waqf. This is also the official position of the AAOIFI Sharia Standard on Waqf. [AAOIFI Sharia Standards]
And Allah Alone Knows Best
Mufti Faraz Adam,
I Waqf Shariah Advisor
