The Charitable Endowment in Islam and its Economic and Social Mission

Abstract

    The charitable endowment is part of  chosen worshipping legalized  by Islam. In addition to the great reward the almsgiving may get from God,  charitable endowment can be of great economic benefit to the society.  Waqf is considered a benevolent river that does not fulfill its offer. It is a means of saving money from  loss,  neglect, or/and abuse. Furthermore, it  can ensure the need of present and future generations  through its revenues if they are invested properly.The endowments in the past were the main artery for the continuity of people's lives; it is the help and support of the countries at the time. Islamic countries in the last centuries could not meet all the needs of societies, but these endowments were able to benefit all Islamic countries. It provides financial returns to the poor and builds mosques and schools. It is concerned with the social, health, and service field and it is therefore an important economic sector supporting the state.   If the Awqaf sector receives special attention from its sponsors  , it  will compet  any institution of economic activity.  Waqf must not be underestimated because its investment nature can bring signifigan benefits since its returns are of different types such as estates, money, movables and immovable.   At present, there is an urgent need for such a project of economic mobilization more than any time, because of the increasing number of population in the Islamic countries whose conditions are marked by the high incidence of poverty, low standards of living, and the deterioration of health as well as social and educational situations.  It is necessary to highlight these segments that suffer the hard conditions of their lives.  On the other hand rich segments think of their property and pleasures without paying any attention to the poor brothers who  have a portion in what God had given them.