Waqf is a sustainable, ongoing charitable endowment (such as Sadaqah Jariyah), widely used throughout Islamic history to develop and support communities. A Waqf endowment usually benefits the community as a whole by offering a service that is useful to society, such as a hospital or a university.
In Arabic, Waqf, or the plural, Awqaf, means ‘restriction’ because it acknowledges that all properties belong to God. A donation – be it a library or a cash sum- cannot ever be owned by any person; instead its possession is transferred to God, but the benefits are reaped by man. The original donor no longer owns the endowment. Waqf is known in some Arabic countries as ‘hibss’ or in plural ‘hubouss’.
Waqf creates great benefits for society as well as the endower.
Benefits for the donor:
- Ongoing and never-ending blessings, even after the donor is no longer alive
- Offers support to the community and enables the more wealthy to fulfil their social responsibility
- Fosters trust between the community and donor
- Revival of the Prophet’s (pbuh) sunnah.
As donations to Waqf can also be made in the name of a deceased person (such as a family member or friend), the continuous reward in this case will benefit the person to whom the donation was dedicated.
Benefits to society:
- Sustainable development: The Waqf endowment is one of the greatest economic practices that Islam offers. It is a long-term investment for the whole community with continuing benefits Community-empowerment and poverty alleviation: Donors are able to improve the lives of poor communities.
- To start the a great work Sarokar Saving & Credit Co-operative Society Limited Harinagar Rural Municipality Sunsari established Waqf Deposit Fund.
- To help poor and needy is your social responsibility, so you can play your role as a donor of this fund and deposit your part to bring the dream of social work.
Account Number and account details are as follows:-
A/C Holder’s Name: