Section 34(r) in Delhi Wakf Board Regulations, 1963
(r)To create a Registered Wakf Fund from the savings of registered wakfs and see that the savings of such wakfs are applied for education and industrial purposes for the benefit of muslims of Delhi. Subject to delegation made to a member, the Secretary or any other officer of the Board, to consider reports of the auditors on the accounts of the subordinate wakfs and wakf-ul-aulad and pass necessary orders thereon. Provided that the Committee shall obtain and forward with its own observations a report containing a general appreciation of the working of the wakfs during the year with a special reference to their financial administration.(i)To consider loan applications and terms to give loans to registered wakfs out of the fund created from the savings of the Registered Wakfs and recommend the same to the Board.(ii)To see and ensure that savings of all wakfs which are registered or for which committees to manage have been appointed are deposited in the Regd. Wakf Fund.
