Wakaf is an Arabic word which may be translated in simple English as endowment. Wakaf means a dedication of a property by a person through a will or otherwise for religious or charitable purposes. This property is given away for the benefit of anyone as desired by the donor.
Wakaf is not only meant for property such as land or building, but it can be any belongings or objects which can be of benefit to other people. For an instance, well, house, chair or any other things.
The Holy Qur’an mentioned that:
“The likeness of those who spend their wealth in the way of Allah, is as the likeness of grain (of corn); it grows seven ears, and each ear has a hundred grains. And Allah gives manifold increase to whom He wills. And Allah is All – Sufficient for His creatures’ needs, All Knower.” (Qur’an 2:261)
And narrated by Abu Huraira:
“When the son of Adam dies, his acts come to an end except for the following three recurring charities – sadaqa jariya (charity that benefits the community), knowledge that is beneficial and pious children who pray for him.”