Finances

Sources of income and application of funds of the Board.

Finances of WAQF Board

Source of Income:

The main source of Income is collection of

  • Waqf fund
  • Rents and Leases
  • Sale of Marriage booklets
  • Issue of Certificates
  • Copying fee, Sale of various forms, and Installations of Hoardings at Waqf property

Apart from this there are (6) Big Institutions which are under direct control and supervision of the Board whose offerings are put to auction every year by the Board. Out of the net income, the Board is collecting 7% of Waqf Fund and 10% to 25% of Haq-e-Intezam per annum from these institutions to cover-up the administrative charges. The annual income of the Board is Rs.6.00 Crores

Out of the above income 1% is being sent the Central Waqf Council as its share remaining 6% is utilized for payment of salaries to officers and staff and its other expenditures

The present Board has sanctioned Rs.50.00 Lakhs to each Waqf institutions which are under direct control of Board for providing basic amenities to the devotees and Zaireens they are like construction of sheds, laying of roads at Dargah and construction of toilet blocks, construction of overhead tanks for water supply and renovation of Dargahs

The Waqf Board is also running an I.T.I. at Mahaboobnagar with a strength of 50 students with (3) Trades with the funds of Dargah Hzt. Jahangeer Peeran

There is one School at Nizamabad is also running by the State Waqf Board. Further in number of Mosques morning shift Schools are being run so as to enable the Muslim students to get acquainted with the Islamic studies

Finances of WAQF Institutions

Finances of Waqf institutions are maintained by board