معرفت اقتصاد اسلامی

One of the important and challenging issues in Islamic economic and finance is the issue of waqf of money and securities, which has received special attention in Islamic countries, while it has not been paid attention to in the Islamic Republic of Iran. In recent years, due to the increase in the price of capital assets and the decrease in the purchasing power of the people, making a waqf has been neglected, while it is possible to provide mechanisms that enable collective waqf by collecting small amounts of money or something else. Today, with the design and launch of waqf funds in Islamic countries, the opportunity for small capitals to enter the category of waqf and help to revive the tradition of good waqf among Muslims has been provided. The function of a waqf investment fund can be to invest in all kinds of securities that can be make waqf and then endow them for charitable purposes. In this research, the implementation of an waqf investment fund based on securities in the capital market of the Islamic Republic of Iran is investigated and assessed. To achieve this goal, first, the experience of different countries in the field of waqf investment funds is reviewed and suggested models are extracted. Then the models are checked and refined using the focus group method and with the presence of experts. Also, the criteria considered by the experts are extracted for prioritizing the models. In the next step, to prioritize these models based on the criteria extracted from the focus group, a questionnaire is prepared and distributed among the experts. The results show that the combined model of charity-waqf investment fund was recognized as the most appropriate model according to the experts. Finally, the possibility of implementing this model is analyzed from three financial, jurisprudential and regulatory perspectives.