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Cash Waqf (upcoming)
Cash Waqf refers to the deposit which is irredeemable & perpetual in nature, donated in cash form in order to ensure regular flow of income for using in social welfare sectors in a Shariah compliant way.
Through opening a Cash Waqf account person would be able to contribute in social welfare sector in his life time even after death which is like Sadaqa-E-Jariah
According to the Hadith of Sahih Muslim "All our activities end on death except three things-
Contribution to knowledge,
On going charity and
Faithful child"
Salient Features:
Facility to open account deposit the installment in any working day of month
Facility to deposit Cash Waqf in onetime and recurring (Monthly/Quarterly) basis
Maximum Income sharing Ratio: (ISR)- Client : Bank :: 90 : 10
Ensure shariah compliant ever-lusting / permanent income to any social institute
Create a scope of Sadaqa-E-Jariah for here and hereafter
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