The legal system of endowments in Libya

Abstract

This research examines the legal framework of endowments (waqf) in Libya, considering it one of the most important legal and social systems contributing to social solidarity and economic development. Endowments are considered ongoing charitable donations whose impact extends beyond the death of the endower. They aim to allocate the benefit or proceeds of specific assets to achieve charitable, social, or religious purposes, in accordance with specific legal and religious regulations.

The research concludes that Libyan legislation has provided a legal basis for regulating and managing endowments. However, developing this sector requires further legislative and administrative reforms, as well as activating oversight and investment mechanisms, to contribute to achieving the religious, social, and economic objectives for which endowments were established.