publication . Article . 2015

The Muḍāraba Facility: Evolution, Stasis and Contemporary Revival

Muhammed-Shahid Ebrahim; Mustapha Sheikh;
Open Access
  • Published: 10 Aug 2015 Journal: Arab Law Quarterly, volume 29, pages 246-260 (eissn: 1573-0255, Copyright policy)
  • Publisher: Brill
  • Country: United Kingdom
Abstract
The age-old concept of partnership was seen by Muslim jurists from the 8th century Hijra onwards as a sacrosanct commercial arrangement—and, therefore, subjected to a form of fixity which is unparalleled in any other religious tradition. Since the formative period of Islamic law, the limited-liability partnership, or muḍāraba, a specific variation of the over-arching mushāraka partnership, has continued to hold central importance for Muslims. Yet, despite this centrality, it has not been examined with a view to reformulating it for contemporary Islamic banking and finance. This has led to its virtual neglect in modern Islamic banking operations. This article sug...
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Subjects
free text keywords: Law, Participating preferred ijāra, Rabb al-māl, Mushāraka, Muḍāraba, Sunna., Formative assessment, Centrality, Sharia, Neglect, media_common.quotation_subject, media_common, Islamic banking, Sociology, Restructuring, Law, General partnership
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