Muhammad’s conception of property as a bundle of rights – Benedikt Koehler
By Benedikt Koehler Property was first conceived of as a bundle of rights in early Islam. The legal instrument that crystallised this Islamic conception was the waqf, a legal entity delivering public welfare in accordance with the wishes of a benefactor. Trusts, which evolved in the thirteenth century, have a rationale analogous to that of waqfs, and in…
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