The Importance Of Islamic Endowment Sukuk In Supporting Development Projects - A Study Of The Experiences In Several Arab And Islamic Countries

Abstract

Islamic endowments Sukuk are considered a modern unconventional means that enhances the developmental contributions of the endowment sector. This is achieved through their capability to mobilize endowment funds, preserve them, and develop them to support various sustainable development fields. Therefore, it was necessary to study a modern Islamic mechanism that contributes to solving the problem of activating the endowment sector's contribution to development, especially given the non-adoption of modern methods and tools by endowment institutions in Algeria to activate the role of endowment in development. This has materialized through the idea of issuing endowment Sukuk, as outlined in this research paper. We also review contemporary models and experiences in several Arab and Islamic countries, aiming to reach a set of perceptions and recommendations regarding policies and measures aimed at revitalizing endowments in Algerian society and supporting their participation in social, political, and economic development in the country.