Revitalizing Waqf for Effective and Sustainable Delivery of Social Protection in Pakistan

Waqf, property or assets endowed perpetually for the beneficial use of recipients or causes, provides social safety and security in a decentralized way. As such, it is an important non-market institution in the Islamic economics framework. Also, Waqf funds can support a broader range of welfare services compared to Zakat. Still, the potential of Waqf remains substantially unrealized in Pakistan. This policy brief explains the challenges faced in managing Waqf and how this vital institution can be revitalized according to international best practices.