A STUDY OF THE FEASIBILITY OF EQUIPPING FINANCIAL RESOURCES FOR INTEREST-FREE FACILITIES THROUGH ENDOWMENT

Abdolreza Hosseinloo, Ali Pour Ghasab Amiri, Kamran Nadri

Abstract


In the Islamic banking system, giving interest-free loans which is aimed at the improvement of the livelihood and economy of the needy strata requires sufficient financial resources. Considering the large numbers of applicants of interest-free loans coupled with the shortage of financial resources, we must begin to think towards the strengthening of the mentioned resources. On the other hand, the financial institute of endowment which pursues a goal similar to interest-free facilities', and both official and nonofficial reports give an indication of undesirability of the efficiency of endowed resources in Islamic societies (due to various reasons including different cultures and systems of administration and exploitation of endowments) can support interest-free-loan affairs. As the results of various studies in various societies show that nowadays in some Islamic societies, the highness of the efficiency of endowed resources is considered as a column of research advances and, growth of welfare and economic indices as well. on this basis, in the present study we have tried to identify certain ignored capacities such as endowment as well as investigating them in the forms of following subjects in order to both be able to prevent the loss of endowed resources, and to take a positive step towards the improvement of effectiveness of endowment and interest-free-loaning: using the sales price of endowed properties in the interval between the sale of old endowed properties and procurement of new endowed properties in interest-free-loan section, endowment of the interests of financial properties such as stocks, and nonfinancial properties for interest-free-loan purposes, endowment of monetary interests for good and interest-free-lending purposes, and exploitation of another series of endowed financial resources in interest-free-lending.

 

Article visualizations:

Hit counter

DOI

Keywords


endowment, interest-free-loan, equipment of financial resources, endowment of interests, endowment of stocks, endowment of money, endowed resources and revenues

Full Text:

PDF

References


Al-jarhi, Mabid Ali. (2002). "Islamic Finance: An Efficient and Equitable option," Jeddah, Islamic Research and Training Institute, Islami Development Bank, Mimio.

Algari, M. (1992). "Relevance of Ottoman Cash Waqf for the Modern Islamic Countries," Conference papers, Kuala Lumpur.

Aminian Modares, Mohammad. (2009). Waqf in terms of rights and laws. Tehran: Publication of the side.

Chapra, M; Umer. (1985). "Towards a just Monetary System," The Islamic Found ation, Leicester.

Cizaka, M. (1998). "Waqf and its Implications" Islamic Economic Studies. Vol, 6. No, 1.

Foruze, Rohollah. (2010). Collection of rules of endowments. Tehran: Khorsandi Publishing.

Haeri Yazdi, Mohammad Hassan. (2001). Waqf in Islamic jurisprudence and its role in the flourishing of Islamic economics. Mashhad: Astan Quds Razavi Publishing House, Islamic Studies Foundation.

Kaleem, A and Ahmed. S. (2009). "The Quran and Poverty Alleviation: A Theoretical Model for Charity- Based Islamic Microfinance Institutions," Non Profit and Voluntary Sector Quarterly. Vol, 9. No, 4.

Mesbahi Moghadam, Gholamreza; Sajjad, Sayyah and Mohammad Mehdi, Naderi Noorani. (2009). "Economic researches: feasibility study of stock and money waqf (stock and money waqf model in Iran)." Year 6, No 12.




DOI: http://dx.doi.org/10.46827/ejsss.v0i0.466

Copyright (c) 2018 Abdolreza Hosseinloo, Ali Pour Ghasab Amiri, Kamran Nadri

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

The research works published in this journal are free to be accessed. They can be shared (copied and redistributed in any medium or format) and\or adapted (remixed, transformed, and built upon the material for any purpose, commercially and\or not commercially) under the following terms: attribution (appropriate credit must be given indicating original authors, research work name and publication name mentioning if changes were made) and without adding additional restrictions (without restricting others from doing anything the actual license permits). Authors retain the full copyright of their published research works and cannot revoke these freedoms as long as the license terms are followed.

Copyright © 2016 - 2023. European Journal Of Social Sciences Studies (ISSN 2501-8590) is a registered trademark of Open Access Publishing Group. All rights reserved.

This journal is a serial publication uniquely identified by an International Standard Serial Number (ISSN) serial number certificate issued by Romanian National Library. All the research works are uniquely identified by a CrossRef DOI digital object identifier supplied by indexing and repository platforms. All the research works published on this journal are meeting the Open Access Publishing requirements and standards formulated by Budapest Open Access Initiative (2002), the Bethesda Statement on Open Access Publishing (2003) and  Berlin Declaration on Open Access to Knowledge in the Sciences and Humanities (2003) and can be freely accessed, shared, modified, distributed and used in educational, commercial and non-commercial purposes under a Creative Commons Attribution 4.0 International License. Copyrights of the published research works are retained by authors.