A cash Waqf is where the underlying Waqf asset is cash. This is usually as seed capital and a holding mechanism.

A contemporary type of Waqf where Waqf assets are in the form of corporate shares of company that are issued and managed by a corporate body such as Islamic banks, takaful companies, Shariah-compliant investment companies, etc.

A property Waqf refers to all Waqf where the underlying assets are physical assets such as mosques, plots of land, houses, hospitals, offices, buildings, and other properties that can benefit the community.

A public Waqf is where the beneficiaries are the public at large.

A type of Waqf (specifically, incorporated Waqf) whose proceeds are used to serve a specific group of individuals (beneficiaries) such as students, travellers and wayfarers, expats, etc.

A self-dedicated Waqf is where the Waqif is designated as the beneficiary of the income or usufruct of the Waqf.

Joint Waqf refers to a Waqf having multiple types of beneficiaries such as family and charitable purposes. The income or usufruct here is shared accordingly.

Family Waqf is the Waqf in which the income or usufruct is reserved for specifically described persons, usually family members and relatives.

Waqf is said to be charitable when its income or usufruct is dedicated for a charitable purpose.

There are different categorisations and taxonomies of Waqf. In relation to the different types of beneficiaries, there are four types of Waqf…