TRENDEFRAtlas of the Sultans · Glossary
Term · Finance and economy
Also known as: vakıf, pious foundation
The permanent dedication of property by its owner to a religious or charitable purpose, and the institution created for it.
Mosques, madrasas, soup kitchens, hospitals, fountains, bridges and caravanserais were mostly founded as waqfs, and their income came from the shops, villages or lands endowed to them. The complexes built by sultans and statesmen survived for centuries thanks to this system.
Source: TDV Encyclopedia of Islam, article “VAKIF” (in Turkish); text condensed for the atlas.