Requirements

Although ‘Waqf’ does not need to be recognised as a Waqf in the law, the Waqf must be structured in a manner which is captured in an appropriate legal framework…

Yes, ownership of an asset is lost when it is made into a Waqf. As a result, one cannot do what he wants with a Waqf asset.

A perpetual Waqf is the most beneficial and most practiced form of Waqf. Waqf should be perpetual by default.

Although perpetual Waqf is the most preferred and the highest form of Waqf, a Waqf can be temporary and time limited. This is the position of the AAOIFI Shariah Standards based on the Maliki school of law.

A Waqf can be declared as effective starting from a future date. For example, the Waqif can declare that his property will be a Waqf next year on the 10th of January. This is the position of the AAOIFI Shariah Standards and is based on the Maliki school of Fiqh.

A Waqf can be conditional and contingent upon a future event. Contemporary scholars permit a contingent and conditional Waqf. This is the position of the AAOIFI Shariah Standards which are adopted globally.

Once an asset is designated as Waqf, the ownership is designated for God. The donor of Waqf loses the ownership of the Waqf asset.

If a beneficiary rejects the Waqf, he will not be entitled to the proceeds of the Waqf.

A Waqf does not require acceptance from the beneficiary. If a specified beneficiary rejects the Waqf, he will not be entitled to the proceeds of the Waqf.

Although Islamic jurists state that the mere utterance of something as Waqf designates an asset as Waqf, that was in a context where such pronouncements was accepted and recognised.

A Masjid is a type of Waqf. For a property to be designated as a Masjid, it must be designated as Waqf and it should be used by worshippers.

Classically, the Islamic jurists state that Waqf could be formed in the following manner:

There are various and multiple pre-requisites and integrals for a Waqf to be valid. These pre-requisites and integrals relate to the following areas: