Abstract
The topic discussed one of the "Ijtihad" matters related to endowment as, in spite of its importance, most of its provisions are based on "ijtihad".In the preface, the author demonstrates the meanings of endowment, the basis of its legitimacy in the Holy Quran, Sunnah and common sense, the 3 different opinions of jurisprudents on the endowment ownership effects, i.e. ownership of the endowed subject remains with the its creator but has no right for disposal, ownership transferred to the endowed for and finally the endowed becomes the property of God. The writer supports the first opinion. He also supported the jurisprudents' majority opinion on the necessity of endowment. The topic was divided into four parts as follows:
Part 1 demonstrates scholars opinions on endowment of movable assets which is based on the endowment of money, the first of which forbids this endowment re restricting it to real estate, the second allows it in a limited form such as the endowment of land together with whatever is on it, such as animals on a farm and weapons, the third allows the endowment of whatever can be sold and can be utilized without consuming it. This is being the majority opinion, he supported it because it encourages the good dees and enlarges its diameter.
Part II tackles the legitimacy and basis of endowment of monies relying on the majority's opinion of movable assets endowment being permissible as monies fall under this category. Reviewing the various scholars scripts on this issue, the majority of whom considered it permissible based on the permission to have it leased. Author's opinion that matches the spirit of jurisprudence is to permit money endowment to make use of its power of exchange. The author also refuted the idea of monies being unusable unless consumed saying that its power of exchange and financial evaluation of goods and services.
Part III: Liquidation of money for charitable borrowing being the most useful area of monies endowment. The writer suggests that an authority should be responsible for such function the expenses of which to be borne either by the Finance House or public Authority, else by the borrower and to be considered as operational fees.
Part IV: Liquidation of money for development and later distribute their profits to charitable parties. This has many methods such as speculation, credit sales, installments and investment bonds stressing that investment bonds interests are not permissible since they are really loan which produced a benefit which converts it into sinful usury.
Recommended Citation
Abu Leil, Professor Mohamed Ahmed
(1999)
"Endow ment of Money in Islamic Jurisprudence-وقف النقود في الفقه الإسلامي,"
UAEU Law Journal: Vol. 1999:
No.
12, Article 1.
Available at:
https://scholarworks.uaeu.ac.ae/sharia_and_law/vol1999/iss12/1