Waqf ahli (family waqf)
A waqf whose income goes to specified persons, usually family members, and to charity when none remain.
A waqf ahli is a family waqf: an endowment whose income or usufruct is reserved for specifically described persons, usually members of the founder's family and relatives. AAOIFI's waqf standard adds that when none of those persons remains, the income goes to a charitable purpose, and it distinguishes the joint waqf, in which income is shared between family and charitable purposes. For a waqf register, the beneficiary rules, the succession of beneficiaries and the final charitable purpose all need to be recorded from the deed.
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This entry explains a term; it is not a Shariah ruling. Approving a product is for each institution's own Shariah board and regulator.