Waqf is an Islamic endowment where any benefits received from the endowment, are donated to charitable projects. The endowment is locked for a particular duration and is not part of the Waqif's estate until maturity. It is an ongoing endowment similar to Sadaqah Jarriyah and is used to develop and support communities.
A person deposits investment amount as Waqf
Deposits are invested in a Shari'a compliant mudarabah pool
Profits generated every 6 months are then collected
The profits are used for projects such as health, social & others.