Perpetual waqf of shares or sukuk, charitable
Listed shares or sukuk dedicated in perpetuity, the holding preserved and its income applied to purpose.
Nothing here is final yet
A waqf is settled only when a scholar independent of us has checked it and signed, and the paperwork proving ownership has been examined. Neither has happened for anything on this site. The rulings here were drafted by our internal scholars, and none is a fatwa addressed to you. See what they rest on.
The scholar’s ruling behind this
Permitted, conditional on the holding passing screening at the time of dedication and on it remaining screened for as long as it is held.
Shares and sukuk are property capable of dedication. What is dedicated is the holding, and the income it yields is what reaches the purpose. The permission rests on the underlying being compliant, since dedicating a non-compliant holding would carry the defect into the waqf itself. Screening is therefore continuous rather than a single test at the outset.
What we check
This condition is recorded, not enforced
The ruling sets a condition and the platform records it. It does not yet test whether a waqf made under this form meets it, so seeing the form on offer does not mean the condition has been met. Until that test exists the obligation sits with whoever administers the waqf, which is where the ruling puts it in any case.
Screening is stated in this ruling and is not enforced by this adoption. Note also that the LISTED_EQUITY asset class is not activated on this platform, so a dedication of listed shares cannot presently be recorded as corpus even though this form may be explored.
What this was based on
| Kind | Source | Checked |
|---|---|---|
| Standard | AAOIFI Shariah Standard on Waqf | Affirmed |
| Standard | AAOIFI Shariah Standards on investment screening | Affirmed |
A source counts as confirmed once a named scholar has opened the book or standard and put their name to it saying this. It is affirmed where there is no document to open and a named scholar attests on their own authority that the position is correctly stated. Until one of those happens it is a citation rather than a confirmation, and it is marked not yet confirmed.
Draft a waqf in this form
The Draft a waqf page asks eleven questions and writes the answers into the Operator’s register as a draft. Nothing is signed or given there: the waqf takes effect when its deed says, and is funded when the property is handed over.