Browsing by Author "Masum Billah Muhammad Zainul Abedin"

This juristic study has analyzed the Islamic legal texts regarding the means to find out the most important Shari’a rulings related to the investment of endowments through lease-based instruments, and the most legitimate ways to invest in the Islamic Waqf (endowment) property. The study adopted deductive and inductive methodology. This research also aims to provide a wide-ranging study of key Shariah issues associated with types of sukuk. The study examines the different opinions of the four famous juristic schools of the Islamic religious law on interpretations about Islamic endowment and its development through different types of appropriate investment instruments. It addresses the nature of Islamic endowment contemporary juristic opinions regarding endowment development and its suitable investment. The study concluded that the Waqf jurisprudence is based on the realization of interests. It also set out a number of jurisprudential controls and economic criteria for the development of endowments, as well as addressing some of the appropriate contemporary means to create new horizons capable of meeting the needs of contemporary societies. The study also listed many of the appropriate contemporary legal methods for and development of endowments like Ijara Sukuk. The study ended with the presentation of some contemporary scenarios of lease-based instruments according to the rules regulated by the provisions of the Islamic Shari’a law.