About Finterra Tech

  • Perpetuity of the asset: regarding the perpetuity of the Mawquf, the four mazhabsare of differing opinions with the Hanifis stipulating that the asset must be one that has a perpetuity, the Shafii and Hanbali’s are of the opinion that any assets can be utilized so far its corpus can be maintained and remains intact. Lastly, the Malikis on the other hand do not give importance to perpetuity and rather establish that the ownership of the Mawquf by the Waqif is enough to validate the subject matter.

To conclude, the Waqf asset, like any other condition of the Waqf contract, is liable to conditions to ascertain its validity and the negligence of any of these conditions in a worst-case scenario could render it invalid. But, not to worry, Islamic Waqf institutions and platforms that offer Islamic FinTech solutions such as Finterra do enough investigation on this regard. Its WAQF Chain platform uses blockchain technology to revive Waqf for the betterment of mankind. This is to ensure that Muslims looking to donate to these causes are not burdened on this regard.





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