According to Fiqh and Islamic law, Waqf is defined as allocating part of one’s possession for a certain good purpose. In other words, waqf is supposed to be free from narcissism and profiteering and devoted to altruistic activities. In some cases, however, Waqif (founder) signs waqf contract so that he benefits from it. Now the question raised here is whether the mentioned waqf is correct or not The present study revealed that self-endowment, paying waqif’s debts and expenses out of Mawqufa’s benefits, waqf for Nafagha and the condition under which al-Mawqufa (the property given as waqf) can be given back to waqif are voided while waqf on public beneficiary, waqf on offspring and parents, and waqf allocating the interests for a given period and the interests for waqif’s lifespan is correct.