Private Trust Services
Islamic Trust (Waaf)
An Islamic trust, commonly known as "waqf" or "waqf al-Islami," is a unique and religious concept in Islamic finance and philanthropy.
The Islamic trust operates with the primary objective of promoting social welfare, education, healthcare, or any other charitable cause permissible under Islamic law. It may also be used to create a family gift or a personal gift that avoids the application of the Islamic rules of succession. The income generated from the waqf assets is typically utilized to support the object of the Waqf. Importantly, the waqf structure is designed to be perpetual, ensuring that the benefits continue indefinitely.
Who needs this?
Are you a Muslim with assets you would like to set apart for philanthropy according to the requirements of your Faith?
Do you need the assistance of a professional in managing such assets according to Islamic guidelines?
This Trust type might be for you!
BENEFITS
- Sharia Compliance: An Islamic Trust (Al Waqf) adheres to Sharia principles, ensuring that the trust structure aligns with Islamic teachings, thereby promoting the fulfilment of the waqif’s religious inclination and personal objectives.
- Charitable Giving: A Charitable Waqf facilitates charitable endeavours by dedicating assets for specified purposes, such as education, healthcare, or other social initiatives permissible under Islamic law.
- Perpetual Benefits: The trust can provide ongoing benefits, as it is designed to be perpetual, supporting you all through your lifetime, your family and future generations or a community in the case of charitable waqf.
- Asset Protection: Safeguards dedicated assets from legal claims and ensures they are utilized for the intended purposes.
