RD Annual Financial Statements

About Us

Awqaf SA Annual Financial Statements are audited annually.

Our accounting is done on a daily basis and hopefully will be on a real-time basis as upgrades are currently being studied to improve our systems with the view that donors will have immediate access to information on their waqf donations and progress of the organisation, inshallah.


The latest audited Annual Financial Statements are for the financial year ended 28 February 2021 which were signed off by AWQAF SA auditors, Deloitte, on 9 May 2022. The latest AGM was held on 25 June 2022.   Unaudited financials for the financial year ended 28 February 2022 were also considered and adopted subject to final audit. The Chairman’s Review and CEO Review were also presented.  We await the completion of audits for the financial years 28 February 2022 and 2023. These will be posted on this website as soon as our auditors sign them off.  

Awqaf SA  is an ASSET BASED Islamic charitable endowment WAQF FUND.

Its Annual Financial Statements must be read and interpreted in the light of how the waqf system works. 

28 February 2021

Click to view the Audited Annual Financial Statements for the year ended 28 February 2021.

Chairman’s Report

Click here to view the Chairman’s Report 2021 – 2022

CEO Review

Click here to view CEO Review 2021- 2022

Waqf Funds:

Waqf funds are capital in nature and may not be consumed.

Long Term:

Waqf funds are long term in nature and may not be spent on consumption expenditure.

Asset Investment:

Waqf Funds may only be invested in capital and infrastructure assets.

100% Policy:

Awqaf SA has a 100% policy in terms of Waqf funds collected.

No commissions. No deductions.

100% of waqf funds donated by donors are credited to their waqf donation accounts.

Cash & Cash Equivalents:

These are temporarily held in profit sharing accounts for waqf investment opportunities.

Downstream Expenditure :

Only waqf revenues may be used for downstream “care” / consumption and developmental projects, eg education, elders, healthcare, subsidies, stipends, etc.

Non-waqf revenues in the form of of general sadaqa/lillah may also be used for projects and programmes.

Continuous growth:

Awqaf SA needs to grow its waqf capital and asset base on a continuous basis to have the ongoing sustainable capacity to meet community needs.


Save for full-time staff, NO remuneration is paid to Mutawallees/ Patron Trustees/CEO/ Deputy CEO/ Secretariat/ Management Board/ Committee members.


Alhamdulillah, Awqaf SA is largely a volunteer-driven organisation.


Waqf Funds may be invested in income-generating/ productive assets or other social/religious infrastructure projects.

Community Sovereign/ Solidarity Fund:

Awqaf SA aims to be the Community Sovereign/ Solidarity Fund of the Ummah.
As the Fund belongs to Allah, the Community Sovereign Fund becomes the protector and security, and “takaful” of the community to ensure that in both prosperous and lean times, the Ummah has self-sufficiency – inshallah. For this, support is needed for the whole community.

Waqf Revenues:

Waqf revenues represent the income generated from investment assets ie rentals, profits, dividends