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A comparative analysis of the fundamental theory of capital-based joint venture in Islamic law

Sadique, Muhammad Abdurrahman (2020) A comparative analysis of the fundamental theory of capital-based joint venture in Islamic law. In: The 16th Kuala Lumpur International Communication, Education, Language and Social Sciences Conference (KLiCELS 16), 12 Dec 2020, Online conference.

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Of the major concepts pertaining to commercial activity advanced by Islamic legal system is the concept of joint participation for generating and sharing gain. While commercial activity and investment for making gain could be done individually, pooling resources together in the form of joint mobilization of capital in business could allow business operations on a larger scale, and result in greater gain for the participants while limiting the possibility of failure and loss. However, the successful and equitable implementation of such a system requires there being in place a well formulated framework of laws and regulations, that addresses every aspect pertaining to joint commercial activity and lays down rules for preventing injustice and wrongdoing. The current paper attempts to discuss the basic framework laid in Islamic law for such pooling together of capital based on a contract between the participants, with a comparative synopsis of the positions of the schools of Islamic law on the necessary criteria.

Item Type: Conference or Workshop Item (Invited Papers)
Additional Information: 5640/86366
Uncontrolled Keywords: Joint venture, Partnership, Capital, Shirkah, Islamic law
Subjects: BPH Islamic Economics > BP322.3 Musharakah - Partnership
H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
K Law > KBP Islamic Law > KBP1 Islamic law.Shariah.Fiqh > KBP490 Furūʻ al-fiqh. Substantive law. Branches of law. > KBP639 Muʻāmalāt
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: 15 Dec 2020 17:34
Last Modified: 11 Feb 2021 16:40
URI: http://irep.iium.edu.my/id/eprint/86366

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