PL EN


2011 | 5(53) | 184-202
Article title

THE PARTICIPATION IN ISLAMIC LAW

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Languages of publication
EN
Abstracts
EN
Islamic modes are asset-based and entail real economic activity and undertaking responsibility or liability. The modes that form the basics of Islamic finance belong to participatory or profit/loss sharing (PLS) or risk-sharing techniques and as such are considered the most desirable modes by the majority of jurists on Islamic finance. Two contracts, namely Mudarabah and Musharakah, that lend themselves to the system of profit/loss sharing are based on the concept of Shirkah. In Musharakah all parties contribute to the joint business and work for it; in Mudarabah, one party contributes funds and the other acts as entrepreneur and the profit is shared in a predetermined, mutually agreed ratio.
Keywords
Year
Issue
Pages
184-202
Physical description
Document type
ARTICLE
Contributors
  • Munir Al-Kaber, Ph.D. is a research worker at College of Economics in Bialystok
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
11PLAAAA109415
YADDA identifier
bwmeta1.element.4f5bb16e-db3f-351f-ba0e-137d0216bcf1
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