A in Islam is also known and referred as Islamic 
endowment. It usually benefits the community as a whole 
by offering a service that is useful to society or to a 
particular individuals based on the intended beneficiaries 
by the donor. Institution of reflect Muslims’ view of 
death itself, preparation for the afterlife, and transmission 
of wealth. One particularly important instrument for 
solidarity and social development is the establishment of waqf 
 to benefit and support the society. These benefits and 
supports include but not limited to rendering financial 
support to the poor, digging wells, building of mosques, 
hospitals or schools such as university. A good example of 
this in Nigeria is Maryam Endowment Fund situated in 
Kaduna, the capital city of Kaduna state in northern 
Nigeria. The endowment also has an office in Abuja known 
as Maryam Endowment Fund Estate (Kado Estate), Abuja. 
Although the Fund is based in Kaduna, many people across 
the northern part of the country have benefited from the 
services it renders thus becoming a pacesetter in the history 
of classical in Islam. This paper looks briefly at the 
concept of , historical origins, and legitimacy of the waqf
 based on Quranic Verses and Hadith of the Prophet 
(SAW). Also, this research examines the resemblance 
between classical in Islam and Maryam Endowment 
Fund in Northern Nigeria vis-à-vis its formation and 
activities in order to showcase the impacts of Maryam 
Endowment Fund on the communities with the objective of 
exhibiting how can alleviate poverty and as well promote social welfare and contribute to economic 
development of the Nigeria society if fairly and properly 
managed like Maryam Endowment Fund. Lastly, this 
research concludes by affirming the significance of waqf 
today in Muslims’ society and making recommendations to 
the Muslim Ummah.