Sustainable development is the main economic goal of any Islamic society. This research aims to clarify the role of “Al Waqf” or entailment in ensuring the economic development of Islamic society and its social welfare. First, the research defines sustainable development from an Islamic view. Second, this research paper discusses the different types of Islamic entailment: philanthropic, progeny and public entailment and their role in developing the Islamic society. Thirdly, the paper discusses the investment nature of entailment. In the final section, the potential impact of entailment on social and economical life aspects is theoretically proven and the relationship between various types of entailment is logically illustrated. The conclusion of the study states that “Al Waqaf” or entailment plays an effective role in attaining sustainable development, so the legislative, regulative basis of entailment must be revised, and public entailment must be preserved against privatization.

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