Explanation
Muslim religious foundations are known as Wakfs.
Wakf (also spelled as Waqf) is an Arabic word that means "holding" or "tying up." It refers to a form of charitable endowment in Islamic law, where property or assets are donated or dedicated for religious or charitable purposes. Once a property is dedicated as a wakf, it becomes a perpetual endowment and cannot be sold, gifted, or inherited.
Wakfs are administered by trustees or mutawallis, who manage the wakf properties and ensure that the revenues generated from them are used for the intended purposes, such as funding religious or educational institutions, providing assistance to the poor and needy, or maintaining public facilities.
Wakfs have a long history in the Islamic world, dating back to the early days of Islam. Many famous Islamic institutions, such as mosques, schools, hospitals, and public baths, were established through wakfs. Wakfs have also played a significant role in supporting the development of Islamic civilization.
In India, the administration and regulation of wakfs are governed by the Wakf Act, 1995. The Wakf Board is responsible for the maintenance and management of wakfs, ensuring that their revenues are utilized for the intended purposes and that the properties are not misused or encroached upon.
Therefore, Muslim religious foundations are known as Wakfs.
