How to manage Waqf assets?

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.

Many people of knowledge are of the view that Waqf (endowment) should be managed according to the manner described by its donor, if it is not prohibited and if it does not contain any prohibition in it. However, if the donor of this Waqf has not specified how it should be managed, then it should be managed according to the customs and norms in his/her era. Ibn Hajar Al-Haythami said: 'The objective of the donor of Waqf should be taken into consideration, in such a manner that if he/she had determined a field where it should be spent, this has to be taken into account. Or if his/her objective is known that in his/her era, Waqf is spent in a particular field, then the term 'donor of Waqf ' applies'.

However, some people of knowledge are of the view that Waqf should be managed in a way that is best in benefit even if it contradicts the condition of its donor.

Allaah knows best.