Shari'ah position on ensuring presence of capital in joint equity based financing

Sadique, Muhammad Abdurrahman (2009) Shari'ah position on ensuring presence of capital in joint equity based financing. Islamic Economic Studies, 17 (1). pp. 1-20. ISSN 1319-1616

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Abstract

Islamic legal texts indicate that a joint venture involving monetary capital could be set in motion on the basis of capital that is existent and present, with clear agreement regarding the share of each partner. While gradual release of capital is admissible, prior existence of capital is necessary. Due to credit supplementing real money in a substantial manner, the identity of money in the current fiscal environment appears to have undergone significant change, the nature and influence of which need to be reassessed through a separate study. This is crucial for determining the form in which the existence and presence of capital could be ensured. The emphasis placed in Shari’ah on existence and presence of capital could indicate a measure for thwarting unwelcome monetary expansion, thus controlling inflation.

Item Type:	Article (Journal)
Additional Information:	5640/4344
Uncontrolled Keywords:	Shari'ah, capital, equity
Subjects:	H Social Sciences > HG Finance > HG1501 Banking K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh > KBP173.25 Islamic law and other disciplines or subjects
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Ahmad Ibrahim Kulliyyah of Laws Ahmad Ibrahim Kulliyyah of Laws > Department of Islamic Law
Depositing User:	Dr Muhammad Abdurrahman Sadique
Date Deposited:	06 Oct 2011 14:54
Last Modified:	06 Oct 2011 14:54
URI:	http://irep.iium.edu.my/id/eprint/4344

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