According to the AAOIFI Sharia Standard on Waqf, a share in a jointly-owned asset can be designated as Waqf. This is also the classical position of the Shafi’i and Hanbali schools.

Gold can be designated as Waqf. The gold Waqf can be lent, leased, invested or traded. If gold is lent, the borrower can use the gold as collateral or in another permissible manner.

Gold is a moveable asset which now has customary practice of Waqf designation. Based on the principles mentioned by classical jurists, a moveable asset which is customarily designated as Waqf can be allocated as Waqf.

A consumable such as food or cash can be designated as Waqf.

A car can be designated as Waqf. The prophetic narration mentions the giving of horses as Waqf.

According to all jurists, immovable property such as land, buildings, bridges and similar infrastructure can be designated as Waqf.

A usufruct can be designated as Waqf, because it has value and customary practice of Waqf designation.

Unlawful income is always given to charitable and welfare avenues as a means of purification.

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.

Shares can be designated as the underlying Waqf asset. The shares will be the Waqf asset regardless of their fluctuating value. Any dividend received will be distributed to the Waqf beneficiaries.

A cash Waqf is a permissible form of Waqf. The income generated from utilisation of the money is to be spent, while retaining the principal amount as Waqf.

When the underlying asset of Waqf is cash, any assets purchased with the cash will not automatically become Waqf upon purchase.

A cash Waqf is another type of underlying Waqf asset. The pre-requisites and conditions which apply to other Waqf assets apply to cash Waqfs too.

Giving cash as Waqf was something of dispute among earlier jurists. Whilst some scholars viewed it as impermissible, others were in favour of cash Waqfs.

Designating land as Waqf is unanimously accepted by all scholars. In fact, this is clearly mentioned in the sacred Islamic sources…

Infrastructure and property can be designated as Waqf. This has been explicitly mentioned by the classical jurists.

The following assets can be designated as Waqf…