Waqf al-nuqud (وقف النقود) is a form of waqf (Islamic endowment) in which the assets assigned as endowment are not physical assets such as buildings and lands, but rather cash. Nazher al-waqf is particularly required, under waqf al-nuqud structure, to maintain the waqf assets (cash) from value deterioration, since cash is susceptible to price changes, with its value being subject to higher degrees of volatility relative to the value of real estate holdings and other physical assets.
The cash form of waqf was seen by some shari’a scholars as similar to the physical form thereof, and was permitted by them on the basis of shari’a-compatible customary practices (urf). Some other scholars opposed waqf al-nuqud (cash waqf) on the grounds that cash has no stable value, rendering the waqf fund greatly sensitive to changes in the general price level.
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