Wakf
System
The Wakf system is based on the tradition of Prophet Mohamed (PBUH) and has been a long established way of financing Islamic institutions. Donations are locked in revenue generating investments. Principal remains intact, only revenues are used to finance specified projects/services.
Management
of the Wakf
The Wakf is managed by an independent Board responsible for collecting funds, investing them and disbursing the revenue in accordance to the Wakf mandate. The Wakf fund has its own account, will be subject to regular audit and its periodic financial reports will be made public.
Why
Wakf Fund
By including MIA Wakf Fund in your will, trust or retirement account, you can pass on your love of the house of Allah SWT to future generations.
You will be supporting critical projects such as the mosque utilities Wakf, which is working toward keeping the masjids sound and welcoming.
Sa’d asked: “O Messenger of Allah, the mother of Sa’d has died, so what is the best charity I may give on her behalf?” The Messenger of Allah, peace and blessings be upon him, said, “Water.” Sa’d dug a well and he said, “This is for the mother of Sa’d.” – Abu Dawud
