Analytical Notes on Translation and Usage in the Saudi Context

In the context of translating and publishing a policy paper issued by the Criterion Institute titled "Redesigning Endowments for Deep Social Change", which was published by the "Third Bank" team after local adaptation, we received a substantial academic interaction from Dr. Omar Zuhair Hafiz, kindly conveyed to us by Dr. Abdullah bin Abdulatif Al-Humaidi (Chairman of the Support Waqf Association). Dr. Omar Hafiz raises a fundamental issue regarding the translation of the term Endowments to "Waqf." We found in his intervention an opportunity to expand the discussion around this term, especially in light of the developments, legislation, and institutionalization seen in the Waqf scene in Saudi Arabia.

This article documents that intervention, analyzes its implications, and presents the Third Bank's vision on rigorous scientific translation that balances the foreign term with the Sharia concept.

First: Background on the Translated Material

The original paper translated by the "Third Bank" team is issued by the Criterion Institute, a leading American research organization concerned with reimagining the role of money in supporting just economic system changes.

Although the term "Endowments" is used in its legal Western sense, we deliberately used the term "Waqf" in the translation, with subsequent contextual clarifications, due to the functional overlap of the two terms, though not Sharia-compliant.

Second: Dr. Omar Zuhair Hafiz's Take on the Issue

In a rich and detailed comment, Dr. Omar Zuhair clarified the fundamental differences between the concept of Waqf in Islamic jurisprudence and the term Endowment in the Western context. His key observations can be summarized in four main points:

  1. Waqf has a precise Sharia definition and specific components, and it cannot be applied to Western trust funds that may lack these components.
  2. Using the term Waqf for foreign funds leads to cognitive confusion and distortion in Sharia culture.
  3. There is no real benefit from this confusion; rather, it may negatively impact the accuracy of concepts for learners and the public.
  4. The Financial Action Task Force (FATF), with the participation of the Kingdom, issued a report titled "Recommendation 25 and Waqf," which included a table comparing Islamic Waqf and Trust Funds, clearly showing the differences.

Dr. Hafiz attached a copy of the report, which enhances the documentary value of his proposal, and it is provided with the article above.

Third: The Fundamental Difference Between Waqf and Trust Fund

Despite the similarity in purpose (supporting charitable or community work), the differences between Islamic Waqf and Western trust funds or Endowments are numerous, including:

  • Legislative Reference: Waqf is based on Sharia texts and jurisprudential interpretations, while Trust Funds arise from civil laws.
  • Governance: Waqf has a supervisory board and is subject to the conditions set by the founder, whereas a Trust Fund may be under the authority of a single trustee or a commercial entity.
  • Eligibility and Intention: The intention in Waqf is an act of worship and must be enduring, while in some Western funds, it may be temporary or conditional on commercial terms.
  • Spending Objectives: Waqf aims to achieve perpetual reward, while Western funds often aim for social impact based on different standards.

Fourth: The Third Bank's Vision Regarding the Term

At the "Third Bank," we recognize that translation is not merely a literal transfer, but a knowledge bridge between cultures. From this perspective:

  • We are keen to clarify the differences when using the term "Waqf" in translated materials.
  • We differentiate between Waqf as a funding tool in Western models and Waqf as a Sharia term with its components and controls.
  • We commit in our publications to use terms like "Waqf in its Western form" or "Endowment" in brackets when necessary.
  • We call for the production of an accurate knowledge dictionary of endowment and financial terms to ensure that uncontrolled meanings do not seep in.

Open Call for Scientific Dialogue

What Dr. Omar Zuhair Hafiz provided in his precise observations is a real enrichment of the scientific dialogue about Waqf, and an affirmation of the importance of safeguarding Sharia concepts from dilution or confusion, especially in an era of global openness and interwoven systems.

We call upon all researchers, scholars, and economists to participate in this dialogue and propose constructive suggestions for developing the translation system and terminological alignment.

Knowledge does not grow except through dialogue, wisdom is not complete without respectful differences, and Waqf is an intellectual and cultural trust before it is a financial tool.