What is the ruling on endowing a stock portfolio?

Endowment (Waqf) is an act of drawing closer to Allah and a continuous charity (Sadaqah Jariyah) whose reward continues after the death of the one who gives it, such as endowments for beneficial knowledge, righteous offspring, copies of the Qur'an, building mosques, digging rivers, and general charities. There is no harm in endowing shares if they are permissible to own. The International Islamic Fiqh Academy has permitted the endowment of company shares, sukuk (Islamic bonds), intellectual property rights, usufructs, and investment units, because they are considered legitimate assets in Islamic law. The principle for endowed shares is their preservation and the use of their returns for the purposes of the endowment. It is permissible to replace them for a preponderant benefit or if stipulated by the endower. It is permissible to endow usufructs, services, and money, such as hospital services, universities, and roads. It is permissible for someone who possesses dubious or forbidden money whose owners are unknown to endow it for general charitable purposes, provided that it is not related to acts of worship (such as mosques or copies of the Qur'an), while observing the prohibition of owning shares in conventional banks and conventional insurance companies.