Highlights in the Accounting Regulation of the Endowment

In the name of Allah, the Most Gracious, the Most Merciful.

Praise be to Allah, and peace and blessings be upon the Messenger of Allah, peace and blessings be upon him.

The waqf (endowment) is a form of financial worship through which a person seeks to draw closer to Allah by dedicating any type of asset he owns as a waqf for Allah. This endowment cannot be sold, gifted, or inherited. By the grace of Allah, who has embarked upon or ordained this blessed practice of waqf, has become one of the most important pillars of development in societies. They have a significant impact on community development in various aspects of life, as waqfs are sustainable financial entities due to the dedication of their principal assets or asset imprisonment and the distribution of their returns and benefits.

Endowments vary based on the types of assets endowed, including real estate, monetary, stocks or investment portfolios, waqf funds, institutions and companies, and other movable assets such as cars, among others. Additionally, the endowment of benefits and rights. The activities of these endowments are also diverse. Despite being non-profit entities, some engage in profitable activities.