Course Syllabus for

Professional Diploma in
Waqf Management

International Institute of Islamic Economics and Finance and

Geneva School of Business and Economics

 January 2021
Background

The Professional Diploma in Waqf Management is a 4 weeks intermediary course.

This course introduces the basics of Waqf, its legal framework, administration,
financing and investment of Waqf institutions.

Admission Eligibility

To be admitted to the Professional Diploma in Waqf Management, students must

have good knowledge of English language.

Duration of the course

The duration of the course is 4 weeks. (Students can study at their own pace. The
course can be completed within 12 months)

Medium of Instruction

Medium of Instruction will be English.

Mode of study: Distance learning. Students will be provided access to our learning
management system to access E-learning materials.
Course Credit
Number
WQF 110 Basics of Waqf 3
WQF 120 Fiqf of Waqf (AAOIFI Standard ) 3
WQF 130 Management and Administration 3
WQF 140 Taxation and Financial Reporting for Waqf 3
WQF 150 Creating Awqaf under the secular law 3
WQF 160 Financing Resources – Waqf financing 3
WQF 170 Case studies in Waqf administration 3
Capstone project
Total 21

Grading policy

Letter grade Criteria Position

A+ 80 or above Excellent
A 70 or above Very good
B+ 60 or above Good
B 55 or above Average
C+ 50 or above Pass
C 40 or above Marginal Pass
F Below 40 Fail

WQF110 Basics of Waqf

This module would introduce the concept of Waqf and the basics of Waqf. At the
end of this lesson you will be able

1. Define and explain “Waqf”

2. Describe types and evolution of Waqf

3. List the participants of Waqf and their role.

WQF120 Fiqh of Waqf (Islamic jurisprudence on Waqf)

The module describes the Islamic law on Waqf. The module has been prepared
according to the AAOIFI standard on Waqf. AAOIFI standards of Accounting and
auditing organization for Islamic financial institution. AAOIFI has set of international
standard on Islamic commercial law which are accepted by country and regulartors
on Islamic finance, banking, commercial transactions, Zakath and Waqf. These
standards harmonize the Islamic commercial law. The standard on AAOIFI-Waqf has
been introduced in this section to give students all around the guide on Fiqh since it
differs by school of thought.
At the end of this chapter you will be able
1. Explain the fiqh on Waqf
2. Importance of AAOIFI Waqf standards.

WQF 130 Management and administration of Waqf

Managing and administrating the Waqf is one difficult task as its involved three
different parties and lack of experiences. The lesson is prepared based on the a
document prepared by three organisation as joint initative. This manual could be
considred as manual for managing the Waqf properti. The three organisation are BI,
BWI & IRTI-IsDB. The name of document are CORE PRINCIPLES FOR EFFECTIVE WAQF
OPERATION.

At the end of this lesson you will be able to

1. Describe the general activities of Waqf Management

2. Identify the general regularity framework for Waqf Management

3. Explain the supervision of Waqf management.

WQF 140 Taxation and financial reporting for Waqf

The Waqf institutions are operating in different countries and different jurisdiction.
The taxation and financial reporting requirement of jurisdiction differs. Therefore its
is important for the participant of Waqf to under the different taxation and financial
reporting issue. At the end of the module, you will be able

1. Understand the taxation issues for Waqf institution

2. Describe the different financial reporting requirement for Waqf institutions.

WQF 150 Creating Awqaf under secular Law

Waqf exists in both Muslim majority and minority countries. Even though India is Muslim
minority country, its waqf value is very higher compared to some of the Muslim majority
country. When the Muslim communities establishing Waqf institution in secular countries,
they cannot follow the same system as Muslim country due to jurisdiction differences. There
fore, it is important understand the how Awqaf can be created in Muslim minority country
under the secular law. This module has been prepared based on the book written by
Professor Muhammed Obaidullah, a leader scholar in Awqaf and Islamic social finance. The
contents for this module were prepared based on the book “Awqaf Development
Management”.

At the end of the module, you will be able To provide the participants with
knowledge of how to create a waqf-based organization given the legal and
regulatory framework in various countries

WQF 160 Financing, investment and development of Waqf

Financing and investing is the core of Waqf institutions. The Waqf institution should
be able identify the tool and techniques of investment analysis and decision making
on Waqf resources. At the end of this lesson you will be able to

1. Identify and use the tool and techniques of financing and investment of Waqf
Institutions.

2.To impart knowledge and understanding of the tools and techniques of investment
analysis and decision-making so that waqf resources may be invested for high
returns at acceptable levels of risk .

WQF 170 Case studies in Waqf administration

The module discusses some real case studies from some of the Muslim majority and
non-majority on Waqf Institution.

Capstone project