Designing a Sukuk's operational model for renting a person in order to finance the prisons

Document Type : Original Article

Authors

assistant Professor of university of Isfahan

Abstract

The lease contract from the point of view of jurisprudence is possible in two ways: the lords (physical assets) and the person (person or human assets). In leaseholds, it is possible to lease assets in the form of goods (physical capital).
But the leasehold on a person's hire is a workforce that a person can lease his or her job to a real or legal person.
According to clause B of Article 11 of the Executive Code of Sukuk Rent, approved August 2010, acceptable assets for the issue of lease notes are land, buildings and facilities, machinery and equipment, and public transportation vehicles. In terms of jurisprudence, rentals and, from the economic point of view, are physical capital
In fact, despite the legal capacity of renting a person, also, Articles 512 to 518 of the Civil Code apply to renting a person, This capacity is not used in the design of Sukuk rental. Since the Prisons Organization is obliged to provide financial resources for professional training and employment of prisoners in accordance with Article 122 of the Executive Code of the Prison Administration approved in December 2005 (with its amendments), Therefore, if we use human capital based rent we can deduct some of the costs of the prison administration to increase employment for prisoners through the financing of a prisoner's human capital rent, with the backing of the workforce and not the budget and public resources.
This research, based on the analytical method, describes the juridical-economical dimensions of the person's rent (human capital) and presents a model for financing prisons to support the employment of prisoners through the provision of human capital renting sukuk.

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