Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash Waqf
Vakif Participation Bank was established in 2015 as a joint stock company with capital from the mazbūt awqaf under the full management and representation of the T.R Directorate General of Foundations and the Bayezid II, Mahmut I, Mahmut II, and Murat Pasha Foundations. Establishing a bank with a cas...
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| Format: | Article |
| Language: | Arabic |
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Istanbul University Press
2023-06-01
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| Series: | Darulfunun Ilahiyat |
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| Online Access: | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/A97AA156FDB347A8AEF0F1B96E41808B |
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| _version_ | 1850274465455276032 |
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| author | Hatice Kübra Kahya |
| author_facet | Hatice Kübra Kahya |
| author_sort | Hatice Kübra Kahya |
| collection | DOAJ |
| description | Vakif Participation Bank was established in 2015 as a joint stock company with capital from the mazbūt awqaf under the full management and representation of the T.R Directorate General of Foundations and the Bayezid II, Mahmut I, Mahmut II, and Murat Pasha Foundations. Establishing a bank with a cash waqf [foundation] was essentially the dream of the sheikh al-Islam and the Awqaf Minister of the Second Constitutional Era, Mustafa Hayri Efendi. In 1914, he achieved this dream to a certain extent by getting Parliament to pass Evkaf Bankası Kanunu (Evkaf Bank Law). However, the outbreak of World War I impeded the de facto establishment of this bank. His dream partially came true with the establishment of Vakiflar Bank in 1954, then more fully with the establishment of Vakif Participation Bank in 2015 through the amount received from the treasury in exchange for the waqf shares in Vakiflar Bank. This article will tell the tales of these three different banks from three different worlds that aimed to establish a bank with a cash waqf by revolving around the legal institutions of cash waqf, usury, and istibdal [exchange]. |
| format | Article |
| id | doaj-art-98ebd7e3647c4e379d3356b3e4e896ee |
| institution | OA Journals |
| issn | 2651-5083 |
| language | Arabic |
| publishDate | 2023-06-01 |
| publisher | Istanbul University Press |
| record_format | Article |
| series | Darulfunun Ilahiyat |
| spelling | doaj-art-98ebd7e3647c4e379d3356b3e4e896ee2025-08-20T01:51:07ZaraIstanbul University PressDarulfunun Ilahiyat2651-50832023-06-0134113210.26650/di.2023.34.1.1194418123456Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash WaqfHatice Kübra Kahya0https://orcid.org/0000-0002-1976-7354İstanbul Üniversitesi, İstanbul, TürkiyeVakif Participation Bank was established in 2015 as a joint stock company with capital from the mazbūt awqaf under the full management and representation of the T.R Directorate General of Foundations and the Bayezid II, Mahmut I, Mahmut II, and Murat Pasha Foundations. Establishing a bank with a cash waqf [foundation] was essentially the dream of the sheikh al-Islam and the Awqaf Minister of the Second Constitutional Era, Mustafa Hayri Efendi. In 1914, he achieved this dream to a certain extent by getting Parliament to pass Evkaf Bankası Kanunu (Evkaf Bank Law). However, the outbreak of World War I impeded the de facto establishment of this bank. His dream partially came true with the establishment of Vakiflar Bank in 1954, then more fully with the establishment of Vakif Participation Bank in 2015 through the amount received from the treasury in exchange for the waqf shares in Vakiflar Bank. This article will tell the tales of these three different banks from three different worlds that aimed to establish a bank with a cash waqf by revolving around the legal institutions of cash waqf, usury, and istibdal [exchange].https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/A97AA156FDB347A8AEF0F1B96E41808Bcash waqfevkaf bankvakiflar bankvakif participation bankusuryistibdal |
| spellingShingle | Hatice Kübra Kahya Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash Waqf Darulfunun Ilahiyat cash waqf evkaf bank vakiflar bank vakif participation bank usury istibdal |
| title | Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash Waqf |
| title_full | Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash Waqf |
| title_fullStr | Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash Waqf |
| title_full_unstemmed | Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash Waqf |
| title_short | Shaykh al-Islām’s Dream Is Coming True: From Evkaf Bank to Vakif Participation Bank, Establishing a Bank with a Cash Waqf |
| title_sort | shaykh al islam s dream is coming true from evkaf bank to vakif participation bank establishing a bank with a cash waqf |
| topic | cash waqf evkaf bank vakiflar bank vakif participation bank usury istibdal |
| url | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/A97AA156FDB347A8AEF0F1B96E41808B |
| work_keys_str_mv | AT haticekubrakahya shaykhalislamsdreamiscomingtruefromevkafbanktovakifparticipationbankestablishingabankwithacashwaqf |