Mehmet Bulut

A Look at Cash Waqfs as Islamic Financial Institutions and Instruments

People have used many methods for covering their cash needs. Banks and other financial institutions were founded for this purpose. The main activity of these institutions is transferring savings to investments. One of these institutions was cash waqfs that were founded in the Ottoman State and were special because they provided cash for people adhering to Islamic fiqh. In this chapter, the rate of money operation (the method of using money in order to take profit from mudarabah, musaharakah etc.), the period of lending, the capital of institutions, etc. will be examined. There will also be a discussion of cash waqfs and an investigation of Islamic finance methods dealing with these waqfs.