Learn more about Waqf, what it stands for and how Waqfinity works.
Waqf is a charitable contribution which is made to Allah for eternity. It can be in the form of an asset such as land or as cash. The waqf itself cannot be consumed but its usufruct can. So the waqf generates perpetual rewards for the donor and perpetual benefits for the beneficiaries.
Anyone can have a waqf regardless of age, gender. religion or ethnicity.
Waqf is a donation made to Allah and therefore cannot be terminated or refunded. Once a Waqf contribution is made, it is made for the end of time. However, you can choose to let Waqfinity manage the digital Waqf foundation created on Waqfinty for you. You will continue receiving rewards Isha’Allah as it will continue to be your Waqf and the beneficiaries will continue to receive profits from it.
No, some specific criteria has to be met for Zakat contribution. Waqf contributions are considered sadaqah.
You must be 18+ years of age to create an account but you can create a waqf foundation in your account for anyone of any age, whether alive or deceased.
Yes, after activating your Waqfinity account, you can set up a Family Waqf or memorial Waqf for anyone you like.
There is no minimum contribution amount for Family or Memorial Waqf. However, if you are setting up Business Waqf, this has a minimum of £1000 contribution in order for the Waqf to go fully live with all features.
You can close your account at any time you may wish by accessing your account and selecting “close account”. By doing so, you will be revoking your rights to manage your foundation and its funds in the future.
Waqf is a charitable contribution to Allah donated permanently, so once a transaction has gone through, there is no refund.
Yes, you can appoint somebody else to manage your account for you. This option will be given in My Waqf page.
We aim to have a diverse portfolio of credible local charities in our impact engine you can support. This portfolio is reviewed termly and you are welcome to suggest social impact causes to us.
Every time you make a contribution, you receive a Waqf Certificate. This can be used for tax purposes. We also facilitate reclaiming Gift Aid to make sure your contribution is maximised.
Your appointed heir in My Waqf page can take over your account and continue managing it. The foundation in your name can be converted into Memorial Waqf and continue receiving contributions from your loved ones.
Yes, all foundations will have a feature of a public page that can be shared on social media and receive contributions.