Replacing the endowment for the interest and its effect on investing the endowment And its judicial applications

Abstract

This paper deals with the issue of substituting the endowment “Waqf” for the benefit and its effect on investing the endowment “Waqf” with mentioning a model for judicial application in the Kingdom of Saudi Arabia with reference to the legal systems related to the replacement of the endowment “Waqf”. The research methodology is both analytical and applied. The research aims: to link the issues of jurisprudence with the considered legitimate interest and to search for solutions and alternatives to the issue of replacing the endowment “Waqf” and to link the theoretical aspects with the applied judicial aspects. Among the results of the research: the differences of jurists regarding the ruling of substituting the endowment “Waqf” for the benefit even if its benefits are not disrupted، and the researcher favored the permissibility. It is necessary to invest and develop the endowment in order to achieve the goals of the endowments “Waqf” and the objectives of Islamic law. The researcher has supported his opinion on this with some judicial applications. The researcher mentioned an alternative model for replacing the endowment “Waqf”، and this model is the endowment “Waqf” investment funds، which is one of the suggested models. Among the recommendations: It is necessary to search for various alternatives to the issue of replacing the endowment “Waqf” and not to be satisfied with this model. It also recommends studying the endowment funds and stating their negatives and positives. Linking the applied aspects with the theory، and linking the legitimate interest with the endowment “Waqf” issues and its contemporary applications.