The religious and social importance of Waqf:
The spiritual benefits of Waqf in Islam:
Waqf is a form of ongoing charity (sadaqa jariya) whose impact extends beyond the life of the donor, making it one of the acts of worship that has many virtues in Islam.
Gratitude to Allah:
Giving money in charity is one of the best ways to thank Allah for His blessings. Just as the gratitude for the blessing of knowledge is through teaching others, dedicating wealth as Waqf for Allah's cause is a form of gratitude to our Creator and an acknowledgement of His favour.
Focusing on the afterlife:
Wealth is one of the most powerful of worldly desires. Accumulating, growing, and safeguarding wealth can dominate a person’s life, and during life's journey one may forget the right that Allah has over our wealth.
Waqf serves as a reminder to focus on the next life and its rewards, in compliance with Allah's command, "But seek, through that which Allah has given you, the home of the Hereafter,"
(Al Qasas :77).
Purifying the soul:
Waqf is a means to purify the soul from greed for money and miserliness, and to accustom it to generosity and giving. The donor voluntarily gives up a part of their wealth for Allah's sake, knowing that Waqf becomes Allah's property and they no longer have the right to reclaim it.
Undoubtedly, this purifies and sanctifies the soul.
The unique social benefits of Waqf in Islam:
Waqf has many spiritual benefits in Islam, and some of these are common to other forms of charity. However Waqf also has unique social virtues unlike other forms of charity.
Securing the community's basic needs:
Unlike other forms of charity, Waqf is a perpetual and eternal charity that does not end even after the donor has passed away. This means it can help to secure a community's basic needs over time.
Planning provision for the future:
Waqf helps the donor become accustomed to thinking and planning for the future, with a sense of responsibility towards future generations.
Empowering communities to take charge of their affairs:
Waqf projects help unite communities and empowers them to take care of their affairs, thinking about the longer term benefit to all on a societal level. It encourages communities to think beyond individual needs and dependency to striving collectively for the benefit of all.
In the examples of the companions (may Allah be pleased with them), we find a strong testament to their commitment to the objectives of Waqf as they competed in dedicating their wealth in all its forms to Allah.
As a result, wider society became engaged in identifying their needs and striving to fulfil them without depending entirely on the state. This change in social mindset gave Waqf vitality and strength over successive centuries.