Waqf al-nami

Definition of "Waqf al-nami"

Also called Institution of Increasing Waqf. A cash waqf that invests its capital in profitable projects through Islamic modes of finance such as mudarabah, musharakah, ’ijarah, etc. The waqf can also innovate by accepting cash deposits for a limited period. The profits of the waqf are used to meet management expenses, maintenance of assets and distribution among beneficiaries of the waqf.