Fatwa #2518014 April 2013South Africa
Waqf Proposal
Question
Mr A wants to create a holding trust with a income earning property as its sole asset.
The following will be beneficiaries of the above holding trust.
- XYZ Charitable trust – 60% ( this trust will receive 60% of the income and 100% of the capital on the termination of the above trust).
- Mrs A – 40% (Mrs A will receive 40% of the income and nothing from the capital).
On Mrs A’s death, 100% of the income and capital will all accrue to the benefit of the charitable trust.
Please advice if this can be implemented from a Shariah prespective.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
The Waqf proposal stated in the query is permissible.
And Allah Ta’āla Knows Best
Mufti Hussein Issa,
Mozambique
Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net
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شرطه لنفسه ما دام حيا، ثم لولده فلان ما عاش، ثم بعده للاعف الارشد من أولاده فالهاء تتصرف للابن لا للواقف، لان الكناية تنصرف لاقرب المكنيات بمقتضى الوضع
فتاوى الشامى – ج 4 - ص 460 – ايج ايم سعيد