Waqf-E-Kuli Khan was established as a registered society in 1971 by the late Lt. General (R) M.Habibullah Khan Khattak, Chairman, Bibojee Group of Companies in memory of his late father Khan Bahadur Kuli Khan. The main objective of Waqf is the promotion of education by extending financial assistance to the poor and deserving students of the country.

The management of the Waqf is vested in the Board of Governors, which currently comprises of a chairman and seven members. Chief Justice (Retd) Mian Mahboob Ahmad is currently the Chairman of the Board of Governors. Under his able guidance the functioning of the Waqf has been reorganized, however the primary objective of promotion of education in the country remains unchanged.

The main income of the Waqf has been donations received form the Bibojee Group of Companies. During the last five years donations of Rs. 46.15 million have been received from the Bibojee Group.

A major portion of the income is utilized to grant scholarships to deserving students of the country. During the last five financial years which ended 30th June 2004, the aggregate amount of Rs. 29.50 million has been disbursed by the Waqf as scholar ships to deserving students. In addition and aggregate amount of Rs. 1.26 million has been donated to various institutions / person for the promotion of education or other welfare activities.

Since its inception thousands of students have been granted scholarships by the Waqf for their education In continuation of this policy, currently hundreds of students are getting scholarships form the Waqf.