Analytical Notes on Translation and Use in the Saudi Context

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

This article documents that interaction, analyzes its implications, and presents the Third Bank's perspective on rigorous scientific translation that balances between the foreign term and the Sharia-compliant concept.

First: Background of the Translated Material

The original paper translated by the Third Bank team is issued by Criterion Institute, a leading American research entity dedicated to reimagining the role of money in supporting equitable change in economic systems.

Although the term "Endowments" is used in its legal Western meaning in the paper, in our translation we consciously used the term "Waqf", with subsequent contextual clarifications, given the functional overlap of the two terms, though not in terms of Sharia.

Second: Dr. Omar Zuhair Hafez's Reading of the Issue

In a rich and detailed commentary, 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 pillars, and it is incorrect to apply it to foreign trust funds that may lack these pillars.
  2. Using the term Waqf for foreign funds leads to cognitive ambiguity and confusion in Sharia culture.
  3. There is no real benefit from this confusion; it may negatively affect the accuracy of concepts among learners and the general 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. Omar attached a copy of the report, enhancing the documentary value of his argument, which is included 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 foreign trust funds or Western Endowments are numerous, including:

  • Legislative Reference: Waqf is based on Sharia texts and juristic opinions, while Trust Funds originate from statutory laws.
  • Governance: Waqf has a Board of Trustees and is subject to the conditions of the waqif, while a Trust Fund may be under the authority of a single trustee or a commercial entity.
  • Capacity and Intention: The intention in Waqf is an act of worship and must be permanent, while in some Western funds it may be temporary or subject to commercial conditions.
  • Spending Objectives: Waqf aims to achieve lasting reward and benefits, while Western funds often aim for community impact based on different criteria.

Fourth: The Third Bank's Perspective on the Terminology

At the Third Bank, we recognize that translation is not merely a literal transfer, but a cognitive bridge between two cultures. From this standpoint:

  • We strive 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 own pillars and regulations.
  • We commit in our publications to use terms like: "Waqf in its Western form" or "Endowment" in parentheses when necessary.
  • We call for the production of an accurate cognitive dictionary for waqf and financial terminology, ensuring that uncontrolled connotations do not seep through.

An Open Call for Scientific Dialogue

Dr. Omar Zuhair Hafez's insightful observations are a true enrichment for the scientific dialogue on Waqf, emphasizing the importance of preserving the Sharia concepts from dilution or confusion, especially in an era of global openness and system interconnections.

We invite all researchers, scholars, and economists to participate in this dialogue and propose constructive ideas for developing the terminology adaptation and translation system.

Knowledge only grows through dialogue, wisdom is only completed through respectful disagreement, and Waqf is an intellectual and cultural trust before it becomes a financial tool.