Waqf (an Islamic endowment of property to be held in trust and used for a charitable, or religious purpose; or a Muslim religious or charitable foundation created by an
endowed trust fund) has a long history in Islam. It has played — and, in many cases, continues to play — a pivotal role in the
advancement of socio-economic well-being of the Muslim community. Many phenomenal architectural relics and public infrastructures, all over the world, from the Atlantic to the Pacific, throughout the centuries, were funded by waqf. AlAzhar University in Egypt, University of Cordova in Spain and Al-Noori Hospital in Damascus, to name a few, are among the public projects financed by waqf funds. Some waqf institutions have survived for more than a millennium.
Despite its phenomenal achievements, the management of waqf also experienced
failures