Waqf is an Islamic endowment of property or assets, dedicated to charitable purposes. It involves the donation of a portion of wealth, such as land or buildings, which is then managed to generate income for community benefits, like education, healthcare, or religious activities. The original asset remains intact, and its benefits are used for the welfare of society.
The concept of Waqf is rooted in Islamic teachings and encourages philanthropy. It is a way for individuals to contribute to their communities and ensure that their wealth continues to serve a purpose even after their passing. This practice has a long history and plays a significant role in Islamic culture.