• INCEIF logo

Islamic Finance: Using Cash Waqf as a Socio-Financial Tool

Delve into the principles, applications, and societal impacts of cash waqf – a vital tool in Islamic finance.

Growing tree in the hands of a businessman

Islamic Finance: Using Cash Waqf as a Socio-Financial Tool

  • 3 weeks

  • 2 hours per week

  • Digital certificate when eligible

  • Intermediate level

Find out more about how to join this course

Understand how cash waqf can address socio-economic challenges

Cash waqf is a type of non-profit donation that should maintain its original cash capital. It’s an important tool in Islamic finance used for societal benefit.

On this three-week course, you’ll develop a comprehensive understanding of cash waqf and its pivotal role in addressing socio-economic challenges tailored to the diverse needs of societies.

You’ll cover the principles, practical applications, and governance structures crucial for maximising the impact of cash waqf initiatives.

Delve into cash waqf models

Diving into the development of innovative cash waqf models, you’ll uncover their versatile applications.

This exploration will help you understand how these models can meet diverse financial needs. What’s more, you’ll gain valuable insights for navigating the evolving landscape of Islamic finance.

Explore the social impact of cash waqf models

With an understanding of cash waqf models, you’ll explore their societal impact, focusing on their influence within Muslim societies.

Within this, you’ll analyse successful cases of cash waqf to understand best practices. This will position you to contribute to impactful initiatives in your career.

Develop your knowledge of social finance and Islamic finance

Finally, you’ll explore the wider impacts of cash waqf. You’ll investigate its contributions to poverty alleviation, education, healthcare, job creation, and infrastructure development.

By the end of the course, you’ll understand how cash waqf can drive positive change. You’ll also be well-equipped to play a significant role in advancing social and Islamic finance as an individual, within organisations, or as a policymaker.


  • Week 1

    Introduction to Cash Waqf: A Socio Financial Product

    • Welcome to Cash Waqf: A Socio Financial Product

      Greetings, valued learners! Get ready to delve into this unique socio-financial tool, understanding its principles and impact. But before that, a little intoduction about your educator.

    • Shariah Perspective of Cash Waqf

      Cash Waqf, from a Shariah viewpoint, embodies the Islamic principle of perpetual charity (Sadaqah Jariyah). Donated funds generate ongoing benefits, aligning with Islamic ethics and aiding societal welfare.

    • Summary

      Summary and reflection for Week 1.

  • Week 2

    Cash Waqf Models

    • Innovative Cash Waqf Models

      Explore nine innovative cash waqf models showing successful cases in Muslim and Muslim minority countries.

    • Summary

      Summary and reflection for Week 2.

  • Week 3

    Social Impact on Muslim Societies

    • Social Impact based on Selected Cash Waqf Models

      Explore the three models of cash waqf which are the waqf share model, the waqf mutual fund model, and the deposit cash waqf product model.

    • Summary

      Summary and reflection for Week 3.

    • What's Next?

      Congratulations, you have completed the 3-week lessons. Next, in order to obtain the certificate of completion, you are required to take the course assessment. Details of the course assessment are provided on the next page.

When would you like to start?

Start straight away and join a global classroom of learners. If the course hasn’t started yet you’ll see the future date listed below.

  • Available now

Learning on this course

On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.

What will you achieve?

By the end of the course, you‘ll be able to...

  • Explain the concept of Waqf, its historical and cultural significance, and its role in supporting various sectors within Muslim societies.
  • Explore different Waqf models, including cash Waqf, waqf share model, waqf mutual fund model, and deposit cash waqf product model, understanding their structures, mechanisms, and social impacts.
  • Apply the principles and guidelines governing the establishment and management of Waqf.
  • Evaluate the social impact of Waqf initiatives in different countries, assessing their contributions to education, healthcare, poverty alleviation, community development, and other sectors, and propose strategies for enhancing their effectiveness.

Who is the course for?

This course is designed for students, shareholders of corporations and Islamic banks, and anyone interested in cash waqf.

You’ll learn how cash waqf models can be applied in your institution for the benefit of society.

Who will you learn with?

I am Associate Professor of Islamic Economics and Finance at INCEIF University, specializing in Islamic Economics, Islamic Finance and Islamic Social Finance (Qard Hassan, Zakat &Waqf).

Who developed the course?


INCEIF is considered to be the knowledge leader in Islamic finance through providing excellent teaching, research and thought leadership.

Ways to learn

Subscribe & save

Buy this course

Limited access

Choose the best way to learn for you!

$349.99 for one year

Automatically renews

$79/one-off payment


Develop skills to further your careerFulfill your current learning needSample the course materials
Access to this courseticktick

Access expires 14 Aug 2024

Access to 1,000+ coursestickcrosscross
Learn at your own paceticktickcross
Discuss your learning in commentstickticktick
Tests to check your learningticktickcross
Certificate when you're eligibleDigital onlyPrinted and digitalcross
Continue & Upgrade

Cancel for free anytime

Ways to learn

Choose the best way to learn for you!

Buy this course

$79/one-off payment

Fulfill your current learning need

  • Access to this course
  • Learn at your own pace
  • Discuss your learning in comments
  • Tests to boost your learning
  • Printed and digital certificate when you’re eligible

Subscribe & save

$349.99 for one year

Automatically renews

Develop skills to further your career

  • Access to this course
  • Access to 1,000+ courses
  • Learn at your own pace
  • Discuss your learning in comments
  • Tests to boost your learning
  • Digital certificate when you're eligible

Cancel for free anytime

Limited access


Sample the course materials

  • Access expires 14 Aug 2024

Find out more about certificates, Unlimited or buying a course (Upgrades)

Learning on FutureLearn

Your learning, your rules

  • Courses are split into weeks, activities, and steps to help you keep track of your learning
  • Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
  • Stay motivated by using the Progress page to keep track of your step completion and assessment scores

Join a global classroom

  • Experience the power of social learning, and get inspired by an international network of learners
  • Share ideas with your peers and course educators on every step of the course
  • Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others

Map your progress

  • As you work through the course, use notifications and the Progress page to guide your learning
  • Whenever you’re ready, mark each step as complete, you’re in control
  • Complete 90% of course steps and all of the assessments to earn your certificate

Want to know more about learning on FutureLearn? Using FutureLearn

Do you know someone who'd love this course? Tell them about it...