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Why Does Tazkiya Use a WAQF?


There are two ways of creating a Takaful Fund, viz.
i. By creating a Waqf fund
ii. By creating a mutual fund
Tazkiya has created a Waqf. The main reason for creating the Waqf is that the Waqf is regarded as a separate legal entity unanimously in Islamic law. Accordingly, the Waqf in its separate legal capacity may own, contract, pay out claims etc.