Benefits Of Waqf In Islam
Introduction
Wealth is one of the things which man covets. It can either lead him astray (away from God) or bring him closer to God. Islam has repeatedly exhorted its adherents to spend out of what they love for the sake of God. Allah has promised in the Quran a multituted of rewards for those who generously spend in His way (al-Baqarah (2); 245). Since the earliest period of Islam, the Muslims have given out of their wealth for the benefit of others.
Waqf is by no means an insignificant instituition in Islam. It potential can be discerned by the very insistence on the non-transferability of the ownership rights of the property. Once a piece of property is given for a charitable purpose, the owner ceases to have any claims over it, because the property is said to belong to no one but Allah. This concept is great importance for the development of the poorer section of society if such waqf properties would be managed to generate inome for distribution or even for further accumulation of assets. Waqf itself also can be regarded as an important economic activities whilst at the same time ensuring that the benefits will accure to some specific sections of society.
Since the advent of Islam in Malaysia, the practice of waqf among Muslims have been quite widespread. It is on record that most of the mosque and other place of worship for Muslims in this country are gazetted under waqf. There are also a considerable number of asset, particularly in the form of land, which have
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