Overview

Waqf:  (Pl: Awqaf/waqfs)  Literally waqf  means to stop, contain, or to preserve. In shari’ah, a Waqf is a voluntary, permanent, irrevocable dedication of a portion of one's wealth – in cash or kind – to Allah. Once a waqf is made, it belongs to Allah and the corpus of the Waqf always remains intact. The fruits of the Waqf may be utilised for any Shari’ah compliant purpose. 

The institute of Waqf has alway been a means of benefiting humanity - through endowments made during the time of the Prophet (peace be upon him)  and throughout the dynasties of Islamic societies.  Ashraful Uloom Waqf Project, is an opportunity to rekindle the tradition of Islamic Endowments. A Waqf donation to Ashraful Uloom will be a means of sadaqah jariyah and eternal reward as the income accrued will be continuously used for for the benefit of society. InshaAllah

Aims and Objectives

  • To revive the Islamic tradition of Waqf
  • To give the Muslim community the opportunity to participate and contribute towards waqf
  • To use the waqf as a means of sustainable development of humanity thereby earning eternal rewards.
  • To provide support to Masjids, children’s homes, education, medical assistance, disaster relief, hajj fund and projects of Ashraful Uloom 

Scope of the Waqf Project
The scope of the Waqf Fund will primarily be economic assets i.e fixed assets, income producing assets, shares,  business or instruments as approved by the administrators of the Waqf Fund. The Waqf Fund will be managed by the Waqf administrators of Ashraful Uloom and will comprise of Ulama, professionals, entrepreneurs and consultants.The Waqf Fund will be will be managed according to the standards prescribed by The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)The beneficiaries of the fund will be the charitable projects of Ashraful Uloom.

Management Team (Waqf Administrators)
Chairperson: Zunaid Bulbulia - former CEO of MTN SA, CFO Huge Group
Coordinator: Moulana Suhail Wadee
Shariah Advisors: Moulana Muhammed Adamjee, Mufti Ahmed Moosa
Investment consultants: Imtiaz Suliman - Executive Director,  Sentio Capital Management
Zaheer Abdulla - (Actuarial Scientist) Group Investment Manager, Mineworkers Investment Company
Members of Ashraful Uloom - Board: Ismail Cassim, Iqbal Mohammed 

How to make a Waqf Donation

  • A lump sum or a monthly waqf donation can be given.
  • The waqf niyah (intention) could be on behalf of oneself or someone else - alive or deceased.
  • Donating a property for Waqf income.
  • Waqf could also be bequeathed - A  person should reflect the bequest in a will. Waqf could also be bequeathed in a personal estate.


NOTE - THE BANK ACCOUNT DETAILS FOR THE WAQF PROJECT IS DIFFERENT TO THE LILLAH AND ZAKAAT ACCOUNTS. PLEASE ENSURE THAT WAQF DONATIONS ARE MADE TO THE BELOW BANK ACCOUNT ONLY

LILLAH DONATIONS ONLY

Bank: First National Bank
Account Name: Madrassah Ashraful Uloom
Account Number for Waqf: 627 1170 6632
Branch: Lenasia
Branch Code: 250737
Reference: Waqf - YOUR NAME - WAQF

Email proof of payment: finance@madrassah.org.za