Al-Quran and Sunnah did not explain the law of endowments clearly. Thus, it mostly decided through Ijtihad and based on the recent times. At the first, endowments is always static objects. However, it goes to many other objects today, such as endowments of profession, endowments of services, endowments of knowledge and the recent is endowments of stock. Those need intensive discussion to find the Islamic law perspektiv about it and the goal of the wakaf legitimation in Islam.Keywords : Ijtihad, Endowments, Stock, Islamic Law, SchoolsAbstrak: Nash Alquran dan Sunnah tidak secara tegas membicarakan hukum wakaf, dan memang kebanyakan hukum wakaf dihasilkan lewat ijtihad dan ini membuat hukum wakaf berkembang sesuai dengan perkembangan zaman. Bila pada awalnya wakaf hanya berbentuk benda-benda yang tidak bergerak, namun seiring zaman, obyek wakaf mengalami perubahan, tidak hanya terbatas pada benda tidak bergerak, melainkan lebih luas merambah ranah yang lain. Muncul istilah wakaf profesi, wakaf jasa, wakaf ilmu dan yang terbaru wakaf saham. Semuanya ini memerlukan kajian khusus untuk mencari legitimasi syariah dan ketepatan tujuan pentasyrian wakaf dalam Islam.Kata Kunci : Ijtihad, Wakaf, Saham, Hukum Islam, Madzhab

Negara memiliki wewenang untuk mengeluarkan aturanaturan hukum yang dipandang akan mendatangkan kemaslahatan bagi warganegaranya. Bahkan menjamin kemaslahatan merupakan tanggungjawab utama sebuah negara. Indonesia sebagai sebuah negara yang memiliki keanekaragaman warga negara; dilihat dari banyaknya suku, adat, bahasa, agama dan kepercayaan, tentu memerlukan koridor hukum yang akan menjaga keselarasan hubungan warganegara, sehingga perbedaan yang ada bukan menjadi faktor pemecah. Diantaranya adalah keluarnya UU No.1/PNPS/1965 menjadi bukti kesungguhan Indonesia menjaga keharmonisan kehidupan beragama di Indonesia. Government has right to issue rules that is viewed benefit its citizens in the future. Moreover, it is its main responsibility to guarantee benefit. Indonesia, as a nation that has various citizens from ethnic, tradition, language, religion, and belief, certainly need regulations that are able to maintain harmony relation among them, so that the difference is not a disunion factor. One of them is the issue of the Bill No. 1/PNPS/1965 that can be said as a real proof that Indonesia maintains the harmony of religious life.

Islamic exertion (ijtihad) is a tool which makes Islamic law be compatible and relevant to the current progress of time. Some contemporary problems which are being faced by human are needed to be solved from Islamic law perspective. In this regard, to intensify Islamic exertion collectively by involving all scientists from various backgrounds of science and knowledge is a way to solve such kinds of contemporary problems which being faced by mankind generally and Muslim particularly.

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