Abstract:
It is legally established that the transfer of ownership between persons
takes place by different ways however, any person may immobilize his
property as Wakf, so that they cannot be sold, donated or transferred by way
succession, and its income or produce is dedicated either to persons or to
religious or charitable purposes.
Wakf is a specific legal system from Muslim law with special provisions
and which are little knowno to lawyers. Indeed, Wakf is a religious and
wharitable institution with an economic, social and cultural nature that
reinforces the solidarity and the sustainable development of Muslim societies
And generates income that can reinforce the revenue of state alleviating some
of its expenses and consolidating the relationship between the civil
community and the state.
Nevertheless, the Wakf institution knows some controversies relates to
its managements, which can be either public, or private, in addition to
misappropriation and neglect that it has suffered from time to time.
These obstacles have not prevented the development of this institution
which has witnessed calls for reform and adaptation to the modern
legislations of the Arab countries. Thus, new perspectives emerge for the
Wakf, promoting charity and social development. It is also a source of
inspiration for the western countries, which use it as mean of enrichment and
as full financial and institutional system. A system that can facilitate the
movement and exchange of capitals, reducing the negative saving of capitals
and their intergration into financial markets.
For all these reasons, it is important to maintain and restore the wakf
and encourage research to consolidate and sustain it.
