Islam is the religion of nature, a complete way of life. Its teachings are a guarantee for the success of mankind in this world and hereafter. The teachings and principles of Islam are so complete and compact, for every walk of life from faith and worship up to moral character and behaviour that by adopting and following them, one not only gets assured of benefits of Akhirah (the life hereafter), his life becomes peaceful, happy and satiating in this world too. As a matter of fact the complete and consummate teachings of Islam vis-à-vis finance and economy would definitely lead to social equality and a sound economic balance. Furthermore, the needs and necessities of people belonging to each and every social strata gets fulfilled in a just and fair manner.
Islam has given clear guidance about uplifting the poor and needy sections and individuals of the society, fulfilling their basic needs. Implementing and acting upon such teachings at individual and collective levels would certainly provide support to poor and the downtrodden sections. They can become self-dependent. Moreover, not only their economic condition improves, rather academic and mental level also develop considerably.
The Waqf has a paramount role to play in the economic set-up of Islam. The significance of Waqf has been retold in a number of Ahadeeth and traditions. It has been greatly emphasized and declared as a Sadaqat-ul- Jariyah (Continuous Charity). Since time immemorial, the Islamic Awqaf has played a vital role in fulfilling the needs and necessities of the poor and the needy, making them financially self-dependent, imparting education to Muslims, serving the sick and the disabled and financially aiding the men of letters, in the perspective of Islamic history throughout every era. The well-endowed, wealthy Muslims have been instrumental in establishing small and big Awqaf for the purpose of different religious, academic, social and welfare objectives, throughout the epochs of time.
In this perspective, emphasis should be laid upon making the Muslims inclined towards establishing new Awqaf besides safeguarding the existing ones. In fact, efforts should be made to spur such inclinations so that the tradition of Waqf (which holds enormous benefits not only for the Muslim society but the entire mankind), continue to be promoted.