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In the Name of Allah, Most Gracious, Most Merciful.
All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.
Dear questioner, we would like to thank you for the great confidence you place in us, and we implore Allah Almighty to help us serve His cause and render our work for His sake.
There is nothing wrong, as far as Islam is concerned, in making specific amounts of money as waqf, or endowment, with the intention of making profits in a halal business in order to help care for orphans or for other charitable causes.
In his response to your question, Dr. Monzer Kahf, a prominent economist and counselor, states the following:
Yes, certainly, no doubt about it. It is, in fact, being practiced all over the Muslim world. It maybe better to put it with institutions such as Islamic banks or shareholding companies, and you should define the objective and the checks and balances on the managers of this waqf very clearly and in detail.
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