Waqf and Legacy Booklet-Low Res1

8/11/2019 Waqf and Legacy Booklet-Low Res1

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What is Waqf?

Waq (pl. Awqa) is a orm o Sadaqah Jariya (ongoing charity) in which a donated gif is used to

bring a return. Waq is similar to the general concept o 'charitable trust' or 'endowment' but in the

Islamic tradition, it is also considered a noble act that reaps great spiritual rewards even afer the

donor passes away.

Waq donations can take many orms buildings, land, money, or other items gifed to charity.

Te initial donation is preserved and the profit it generates is given to charity.

Te Prophet Muhammad (pbuh) regarded Waq as one o the best orms o charity because o the

continuous blessings it brings. He himsel is known to have made many Awqa and encouraged his

companions and those around him to do the same.

Waqf in History

Since the time o the Prophet (pbuh), Waq generally took the orm o a donated property or an

institution to help others. For example, houses were converted to inns or travellers, waterways

were built to bring water to villages, hospitals were built to provide ree medical treatment, schools

were built to provide ree education, and kitchens were established to eed the poor.

Islamic ReliefsWaqf Future Fund

Guided by the illustrious record o Waq in

Islamic civilization, Islamic Relie started

its Waq programme in 2000, and has a

Waq Water helps provide clean and

drinkable water in Niger

The WaqfInvestment C

invested amount

800

10%*

profits reinvestedannual profits

Contribution Amo

890

How to Get In

Choose which Waqf categ

support (see section B o d

at the end o this booklet

Select number ofshares yo

* Tese percentages are approximates and

in the best interest o the scheme and its b


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Waqf PROJECT IMPLEMENTATION

Aghanistan

Albania

Bangladesh

Bosnia

Chechnya

Egypt

India

Indonesia

Iraq

Jordan

Kashmir

Kenya

Kosovo

Mali

Malawi

Niger

Pakistan

Palestine

Somalia

Sri Lanka

Sudan

Islamic Relie Waq Funded Projects

A Waqf Gift foDeceased Rela

Nothing continues to benefit

more than an ongoing charity

child who prays or them or k

that continues to benefit othe

At a time o great sorrow whato pay tribute to your loved o

to make a charitable donation

behal.

A charitable Waq to Islamic

behal o your loved one(s) is

most positive ways to remem

deceased. Your donation will

to support our ongoing chari

projects, which may or exam

orphans with education acili

to ensure that the neediest co

are given access to clean drin


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Leaving a Will is an important religious duty or

those living in a country where Islamic Sharia is

not recognised.

Making a Will is the best way o ensuring your amily

and loved ones are cared or in the event o your death

in the way that you would wish. But this isnt the onlybenefit a Will gives you the opportunity to remember

charitable causes you most care about.

Leaving a legacy to Islamic Relie is one o the best

ways to support our uture work.

Your gif no matter what its size* will be invested in

one o our many Waq projects - ensuring that it can

have a lasting impact on its beneficiaries.

A Waqf in Your Will

Did you know?

A man named Mukhariq

bequeathed in his Will, seven

orchards in Medina to be given

to the Prophet Muhammad

(pbuh). Afer Mukhariqs death,

A step by step

Islamic Will

1. Value your asset

Beore making a Will it is a go

known as your estate and inc

less your debts, such as unp

to work this out. I the value owill need to consider Inherita

2. Do you need a so

It is possible to make your ow

recommended to seek proes

bequests or i your financial a

Remember:or your Will

be satisfied:

You must be at least 18 years

You must be of sound mind;

Your Will must be in writing

You must identify yourself as

You should state that it is you

Te Will must be dated and s

who are neither a spouse nor

Te Prophet (pbuh) said:

It is the duty of a

Muslim who has

anything to bequeath

not to let two nights

pass without writing

a Will about it

Hadith Narrated by

Al-Bukhari


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4. Decide what to leave to whom

Afer the payment o any taxes, debts, and uneral and administration expenses, up to

a maximum o one third o your estate can be l ef to whomever you wish this may

include riends and amily not entitled to inherit under Sharia, as well as charities.

You will need to speciy that the remainder o the estate (which will amount to a minimum

3. Decide on your funeral andburial arrangements

You should speciy in your Will that you would like

your uneral and burial rites to be carried out in

accordance with the practices o Islam. Tese include:

not having your dead body subjected to a

routine post mortem examination

because the Prophet Muhammad (pbuh) said,Breaking a dead mans bone is like breaking it

when he is alive. (Sunan o Imam Abu Dawud)

having your body released for burial

immediately aer death;

having a Muslim burial;

advising where and how your body is to be

buried;

if you do not wish for any of your organs to be

used or medical research or organ replacement

operations, then say so.

5. Choose your exe

You will need to choose up t

Will. Executors can also be b

relatives, make sure they are

responsibility. I you are choo

be paid or their services rom

I your executors do not kno

find an alim who has this knwww.islamicsofware.org/ir

Tis sofware is also useul i

if I were to die tomorrow?

6. Choose a guard

I it is possible that you may

appoint a guardian to look af

dying while they are still min

non-Muslim relatives and wa

7. Choose your wit

Ideally, choose two trustwort

the signing o your Will.

Remember:anyone who w

your Will cannot be taken as

I this does happen, he or she

Access to clean drinking water

in the drought stricken region o

Kharan, Pakistan


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How to Leave a Gift in Your Will

Should you decide to leave a gif to charity in your Will - whether it be a portion o your

estate, a fixed sum o money or a specific item - you will need to ensure that the value o

the gif does not amount to more than one-third o your estateafer the payment o debts,

uneral and other expenses.

Te suggested wording given below can be used i you decide to include a charity in your

Will (Islamic Relie is used in the example given):

To leave a portion of your estate (Residual Legacy)

Afer the payment o debts, uneral and other expenses, I give to Islamic Relie, Unit 40,

Uplands Business Park, London, E17 5QJ (Registered Charity No: 328158), a portion of

(enter fraction) o my estate (ree o all taxes) to be used or charitable purposes by Islamic

Relie. I urther direct that the receipt o the reasurer or other authorised officer o Islamic

Relie will be sufficient discharge to my executors.

To leave a fixed sum of money (Pecuniary Legacy)


Uplands Business Park, London, E17 5QJ (Registered Charity No: 328158), the sum o

(enter amount) (ree o all taxes) to be used or charitable purposes by Islamic Relie. I

urther direct that the receipt o the reasurer or other authorised officer o Islamic Relie

shall be sufficient discharge to my executors.

To leave a valuable gift (Specific Bequest)


ASSETS

How to Value

Property and Possessions

Home

Other Property

Household Contents

Jewellery

Motor Vehicle(s)

Other Valuable Items

Financial Assets

Bank Account (s)

Building Society Accounts(s)


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Education

YEAR WAQF PROJECT IMPLEMENTATION LOCATION

2002Rehabilitation o Primary Education Inrastructure

in KandaharAghanistan

2003 Vocational raining or Employment Services Bangladesh

2004 Rehabilitation o Schools Iraq

2005 Community raining Centre Albania2006 Vocational raining Sri Lanka

Emergency ReliefYEAR WAQF PROJECT IMPLEMENTATION LOCATION

2002 Food Distribution Palestine

2003 Food Distribution Iraq

2004 West Darur Emergency Response Sudan

2005 sunami response Indonesia

2006 Malawi Food Emergency Malawi

General

YEAR WAQF PROJECT IMPLEMENTATION LOCATION

2002 Income Generation: Interest Free Loans Bosnia

2003 Health: Early Intervention Egypt

2004Emergency & Relie:

West Darur Emergency ResponseSudan

2005Integrated Community Development:

h ld dl llMali

Waqf Project Implementation (2002 -

Inco

YEAR

2004

2005

2006

Orp

YEAR

2002

2003

2004

2005

2006

Qur

YEAR

2002

2003

2004

2005

2006

Emergency Relie Waq

used to benefit many o the

2004 Tsunami victims in

Health Waq supports an

early intervention centre

project in Egypt

One o many Waq

unded small scale

projects in Pakistan


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How can I participate in the Waq Future Fund?You can buy a Waq share by completing and returning the orm

attached or contacting Islamic Relie directly on 0800 520 0000. Youalso have the option o making a Waq donation online at www.islamic-relie.org.uk

How much will it cost to buy one share?Te total cost o one share in the Waq Future Fund is 890. Tis can bepaid in one lump sum or in several instalments. Afer an initial one-off

investment ee o 90, the capital sum o 800 is invested according toIslamic guidelines.

Do I have to choose a particular type o category or can I leave it open?

Tis is entirely your decision; however we do encourage donors to take

General Waq shares or two reasons: Te General Waq allows you to reap the benefit o helping people in

different ways through different projects.

Te General Waq also gives us greater flexibility when it comes tohelping those most in need.

How much return will there be on my share?Low risk investments offer a high probability o return, with modest

amounts o return. As our policy is low-risk investment, we avoidschemes which offer potentially higher returns as they also carry a

higher risk o loss.

I you are promising an annual return, is this not the same as interest?As we do not guarantee a return on the investment, we are not offering

interest. Instead, we state that we expect a very high chance o return -not a 100% chance o return.

How ofen will Islamic Relie let us know about how the Waq shares

are perorming?

We aim to send donors an annual report on how well their Waq sharesare perorming. I you do not wish to receive an annual perormance

report please let us know in advance.

When will I receive my Waq deed (legal documents o verification)?Once you have made your Waq payment in ull, you will receive a

welcome letter and receipt. Te money will then be invested (on thefirst day o the ollowing month or within eight weeks, depending onthe time o month you complete your share), and you will be sent your

Waq deed, within a maximum o two months.

Your QuestionsAnswered

Orphans Waq used to

und one o many summer

camps in Palestine

A carpenter in Bosnia

benefits rom an interest-

ree loan unded by Waq

donations

Villagers use an IR

unded well in Sudan

Will I receive a Waq deed or each share I invest in?

You will receive a Waq deed or each type o Waq you investin, rather than each share. For example, i you buy five shares inHealthcare Waq then your single deed will state that you have

invested in five shares in Healthcare Waq.

If, however, you invest in ve shares as follows; three for OrphansWaq and two or Healthcare Waq then you will receive two Waqdeeds, one orphans deed (stating three shares) and one healthcare

deed (stating two shares).

Can I pay or my Waq shares in instalments?Yes. Te best way to do this is by making regular contributions

through your bank account. We recommend a minimum amount o40 per month. Tis means that a Waq share will be paid or in lessthan two years. You will receive a Waq deed once the amount you pay

reaches 890.

Can we give shares in Waq on behal o someone else?A Waq share is an ideal gif or parents, children, relatives and riends,as it brings benefits in this world and in the hereafer, inshaAllah

(God-willing).

It is also possible to make a special gif or the deceased - especiallyparents and relatives. Te Waq deed will have the name o the personwho has bought the Waq share, and also the name o the person

to whom the shares are attributed.

How can I include a Waq in my Will?Afer the payment o any debts, uneral expenses and administration

costs related to the disposal o your estate, you are permitted to bequeatha maximum o o your estate to parties not entitled to a fixed share.Tis will include any charitable donations you wish to make.

Te best way o including a Waq to Islamic Relie in your Will is to

speciy that a portion or percentage o your estate amounting to nomore than to be used on Waq or ongoing charitable projects.

Is there a limit to the number o shares that I can invest in Waq?Tere is no upper l imit to the number o shares you can invest in. One

current UK Waq donor has 53 Waq shares under his name!

Can a group or an organisation buy shares in Waq?Yes, they are welcome to do so. Islamic Relie Waq projects are notlimited to individuals. Organisations, businesses, mosques, Islamic

centres and even groups o riends have been getting together to buyWaq shares.

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Documents

Waqf and Legacy Booklet-Low Res1