The idea of this Waqf depends on the holding of the Waqf funds as an asset in which the share starts at KD 300 or its multiples, and the asset is invested while IICO spends its proceeds on the purposes of this Waqf.
Waqf is the real charitable investment that you pay in this world to support you in the Hereafter. Islam has urged the Waqf. Some scholars have mentioned that all the Companions of the Prophet had Awqaf.
The Messenger of Allah said: “I and the sponsor of an orphan shall be in Paradise like these two” and he indicated that proximity using his fingers, namely his index and his middle finger.
Fostering Orphans Waqf provides the opportunity to secure and to take care of the orphans in order to earn paradise and ascend to high grades in anticipation of the company of best of the humans the Prophet peace be upon him.
Waqf is spent to:
- Sponsoring and caring for orphans.
- Building their sheltering houses.
- The Eid gift and clothing of the orphans.
