It goes without saying that Muslim jurists permitted lending gold to women for ornamentation purposes because women are allowed to adorn themselves with gold. Moreover, if the asset is lawful to use, then it is allowed to lend, sell, or make an endowment of it.

Dr. `UgailJasem An-Nashmi, professor of Shari`ah at the University of Kuwait, states the following: It is lawful to make an endowment of jewelry, and the person will be rewarded for that, in sha‘ Allah. Actually, it is allowed to make an endowment of and lend jewelry for dress and adornment. This is based on the following hadith reported by Nafi`: Hafsah (daughter of `Umaribn Al-Khattab) bought jewelry that is worth 20 thousand dirhams and endowed it for women of Al-Khttab household and consequently, she was not paying zakah for it.

IbnQudamah accounted for the allowance of endowment stating that jewelry and ornaments are assets that can be utilized and remain forever; thus it is valid to make an endowment of them in the same manner as real estate. It is possible to put aside the original property and donate its fruit; then it is valid to make an endowment as real estate. Moreover, ornamentation is one of the important objectives and habits, and the Shari`ah considered that factor in dropping zakah for one who wears jewelry or lends ornaments or jewelry on lease (Al-Mugnima`a Ash-Sharh Al-Kabeer and Al-Majmu`).