In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
A perpetual Waqf is the most beneficial and most practiced form of Waqf. Waqf should be perpetual by default. However, the AAOIFI Sharia Standard on Waqf permits time limited Waqf. This is also the view of the Maliki school. As such, although a permanent Waqf would be far more rewarding and encouraged, a temporary Waqf is permissible.
And Allah Alone Knows Best
Mufti Faraz Adam,
I Waqf Shariah Advisor