The Waqf, or endowments, is an age-old Islamic method of supplying public services. Throughout Islamic history, this third space enabled entrepreneurs and the monied to donate to causes that would multiply their reward. Many of the key services from health to education in history were funded by this method and it became a model of giving, emulated by many Westerners. Oxford University, it is said, built its endowment structure on the Waqf model.
But what is a Waqf, and why do many call for its reintroduction today? My guest believes in this forgotten sunnah, and has set up an organisation the National Waqf. Maulana Tahir Talati heads the National Waqf, an organisation looking to revive the practice of Awqaf.
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Timestamps
0:00 – Introduction
2:08 – What is Waqf?
3:41 – Purpose of Waqf
5:04 – Waqf vs Zakat
7:19 - Different Waqfs
20:19 – Role of state
28:01– Reliance on Waqf
29:47 – Islamic economists and Waqf
31:10 – Generating funds
37:10 – Waqf Political fund
47:08 - National Waqf org
51:43 – National Waqf structure
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