| المستخلص: |
This paper comprises an introduction, three sections, and a conclusion. The introduction The introduction describes the importance of the study and the reasons for selecting this topic. The first section This section discusses some endowment-related issues associated with the composition of this contract in terms of its lexical, technical, legal, and economic definition; its ruling and the ruling for its legal status; and its pillars, conditions, and categories. The second section This section discusses the jurisprudence of stocks and bonds in terms of concept; the ruling for buying and selling those financial instruments; the juristic opinions on the ruling for dealing in stocks and bonds; and a discussion of the evidences used. The paper preponderates the opinion maintaining the permissibility of dealing in stocks and forbidding dealing in bonds due to the strength and incontestability of the evidences cited in support of this opinion and the weakness of the evidences used by contesting opinions. This section further deals with the legal adaptation of stocks and bonds endowments, and the nature of the endowed movables in Islamic jurisprudence and its divisions. These are: - Property whose benefit can be extracted without consuming the property itself; - property whose benefit cannot be extracted without consuming the property itself. After reviewing the juristic opinions on the first division of endowed property and discussing substantiating evidences, the paper preponderates the opinion maintaining permissibility due to the strength and incontestability of the evidences. Moreover, the opinion maintaining the permissibility and legitimacy of the first division of movables allows the beneficiaries to benefit and, at the same time, takes into account the interest of the endowment itself. The second division of movables is itself divided into: - Movables whose benefit cannot be extracted without de facto and de jure consuming the property itself i.e. food; - movables whose benefit cannot be extracted without de facto consuming their corpus i.e. benefit is extracted from the object of endowment (such as money) while its corpus is de facto consumed though it remains de jure because it is replaceable property.
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