Two types of endowment funds have been reviewed in the Shariah Committee of the Security and Exchange Organization of Iran so far.

Stock Endowment Fund

In this fund, benefactors provide their financial resources in the form of a binding peace to the fund so that the fund manager can purchase shares with certain characteristics. The fund manager after buying the shares, endows the shares on behalf of the fund unit holders. Benefactors who have participated in this benevolent action through the ownership of the investment units of the fund, obligate the fund manager to replace the purchased shares if they lose the characteristics that are considered by the Shariah Committee.

. The shares purchased by the fund manager must be used in productive activities and the predominance of the company's leasable assets must continue until its liquidation.
. If after the endowment, the state of the company's assets changes in such a way that the predominance of leasable assets over other assets is lost, the fund manager is obliged to immediately replace those shares with other shares that meet the conditions of leasing shares.

. Requiring cases for exchange and replacement of endowment shares (for example, the sale of shares whose profitability has decreased after a certain period of time and replacing them with other shares that both meet the conditions of endowment and are favorable in terms of profitability) is permissible; moreover, it is necessary to determine the conditions related to the exchange and replacement of endowment shares at the beginning of the fund's activity.
. The fund is obligated to use the dividends and other financial and non-financial rights and benefits of the shares (such as bonus shares, pre-emptive rights related to shares, the right to attend the assembly and the right to vote, etc.) in favor of those who received the endowment.
. In the stock endowment fund, it is necessary to have a Shariah scholar’s monitoring to supervise the proper observance of the Shariah considerations related to the endowment funds.

Money Endowment Fund

. Endowment of money in the capital market is permissible according to the fatwa of the Supreme Leader of Iran, Ayatollah Syed Ali Khamenei, and some other grand shariah scholars.
. Allocation of endowed financial resources for depositing in the bank or investing in Islamic securities while maintaining the capital principle (taxation) is permissible.
. Allocation of endowed financial resources for the purchase of shares or other financial instruments is permissible according to the mentioned questions), on the condition that the principle of the endowed amount is preserved.
. In order to ensure compliance with the resolutions of the Shariah Committee, it is necessary to have a Sharia inspector in the pillars of securities.