Waqf, a charity in perpetuity, assures donors continuous reward in the afterlife. More importantly, throughout history, Waqf institutions have played a positive role in contributing to the socio-economic development of countries such as Kuwait, Egypt, Turkey and many others. In fact, as early as the 10th century, it replaced zakat as the vehicle for financing socioeconomic development in Islamic societies. The recent revival of Waqfs throughout the Muslim world, is indeed, commendable.
