In Imam Khomeini’s view, the economy is not solely the domain of government activity; the people can also play an active role in building and strengthening the economic foundations of society.
Waqf (endowment) is one clear example of this people-centered economy: an institution that takes capital out of the cycle of personal consumption and places it in the service of a lasting public benefit.
At a time when public participation in the economy remains a serious concern, this perspective elevates waqf beyond an individual charitable act and presents it as a significant social and economic capacity.
“Waqf is a people-based institution whose mechanism is an endogenous economy, independent of the government and governing authorities; it is an entirely people-driven matter. Strengthening the institution of waqf can be highly effective in consolidating the country’s economy and advancing the concept of a ‘resistance economy.’”
Extracted and excerpted from the interview “The effects of Waqf from the perspective of Imam Khomeini” by Hojjat al-Islam Mohammad Ali Khosravi