Who does what
Eight actors, and for each what it may do, what it may not and why, and how it is expected to perform. Read this before taking a role, not after.
Two things worth knowing first
A power is not a permission
Holding one means the act is open to you where every other condition is met. Authority is asked afresh at each act and refused on scope, effective period, value threshold, conflict or recusal, none of which a list of powers can tell you.
Approval is not execution
The party who wants something is never the party who records that it happened. Where a role holds the proposing half of an act and not the executing half, that is the reason and not an oversight.
The actors
Each acts at some of the six stages of a waqf. What each may do is read from the platform’s own records, so this page cannot promise a power the platform would refuse.
The Waqif
The person or institution making the endowment.
The Operator
The nāẓir (mutawalli) of each Waqf it is appointed to, by tawliya from the Waqif.
Must accept
The Shariah Auditor
The scholar who sits on the Operator’s Shariah board and gives the Shariah assurance each Waqf carries on its Passport.
Must be independent
The Investment Manager
Directs how the Corpus is invested, within the policy the Operator sets and its Governance Council approves.
Must accept
The Custodian
Holds the property.
Named only
The Accountant
Keeps and reports the Waqf’s accounts.
Named only
The Governance Council
The body that governs the Operator, and through it every Waqf that Operator administers.
The Platform
Waqf.Finance itself.
