Financing Urban Projects based on Islamic Criteria in order to Fulfill the Objectives of Economic Jihad

Municipals are organizations that are responsible for a large part of the plans and projects at the national level that financing these projects should be done with respect to efficiency, innovation, and the requirements of the law. In many countries in order to finance the different sectors of the economy, the bonds are used that because of being usury is not applicable in the Islamic countries. Islamic scholars have designed and proposed different Islamic securities (Sukuk) in order to remove usury and bonds from the financial sectors- capital market- the variety of which is growing.Islamic securities, is one of the new tools of Islamic financing which have been used in many Islamic countries in recent years. These securities are designed based on the Islamic contracts among which Jealeh is one of the economic contracts which has the capability to be used in many urban projects. The main principles of this contract are Jael, agent, and Jal. Jael by stating necessity requests the belonging of Jealeh from the agent (either natural or a legal person). In the present study, by using exploratory-functional method, the Jal contract are explained from the jurisprudential and legal aspects, and later by examining the Islamic securities, the designing and proposing operational models of Jealeh securities will be reconstructed and construction of the project for financing the projects will be paid attention.

Keywords:

Jealeh , Jealeh Securities , Reconstructing Jealeh Securities , Construction