A Guide To International Waqf Foundation

INTRODUCING THE CONCEPT OF WAQF IN WEALTH AND ESTATE MANAGEMENT

Labuan International Business and Financial Centre (Labuan IBFC) is Asia's only midshore jurisdiction with conventional and Islamic wealth management solutions. Capitalising on this strength, the jurisdiction has introduced the concept of "Waqf" by private foundation, with the launch of the Labuan International Waqf Foundation (LIWF).

The concept of Waqf is a key aspect of Islamic wealth management. Historically, Waqf has been used to generate revenue towards supporting a myriad of charitable purposes such as education, welfare and even the building as well as management of public hospitals.

Waqf is a functioning element of the Shariah legal system, allowing ummah from around the world to have the peace of mind that their assets are used for good deeds.