What is the term for an Islamic charitable endowment, typically involving property or assets dedicated for religious or public benefit?

Explanation

– Waqf refers to an Islamic charitable endowment, typically involving property or assets permanently dedicated for religious, educational, or broader public benefit purposes.
– Historically, Waqf institutions funded mosques, schools, hospitals, and various public services across the Muslim world, forming an important part of the traditional social welfare system.
– For exams, remember that once property is designated as Waqf, it generally cannot be sold, inherited, or transferred, remaining perpetually dedicated to its intended purpose.