ABSTRACT
It is widely held in the relevant literature that the restrictions imposed on waqf properties by religious law prevented their economic improvement. 1 This is particularly true of the ban on the sale of such property, as implied in its very name (waqafa: ‘to stand’). 2 Baer, speaking of waqf lands, summarizes this opinion as follows:
Everybody agrees that waqf land was always neglected, its income always lower than that of other land. There are two reasons for this: first, since it cannot be sold, it cannot serve as collateral for a loan that would be invested in the development of such land. Second; it is impossible to sell parts of the property and invest the proceeds in the development of the other parts. 3
