This  standard presents the definition of Waqf and discusses its types, Shari’ah rulings, basic elements, and the conditions that pertain to each of these elements. It also covers the conditions required in the Waqf and the Waqif  (donor),  and  illustrates  the  appropriate methods for Waqf utilization, investment, supervision and management. Furthermore, the standard covers the crucial role that Islamic financial Institutions couldt play in the development of Waqf, and the appropriate methods of Waqf.

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