THE PARTICIPATION IN ISLAMIC LAW

• Authors: Al-Kaber Munir
• 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

EN

CONTRACT; DIMINISHING; MUDARABAH; PARTICIPATION; SHIRKAH

Discipline

• ECONOMICS: ECONOMICS

• Journal: Optimum. Studia Ekonomiczne
• Year: 2011
• Issue: 5(53)
• Pages: 184-202
• Document type: ARTICLE

Contributors

author

Al-Kaber Munir

• Munir Al-Kaber, Ph.D. is a research worker at College of Economics in Bialystok

Identifiers

CEJSH db identifier

11PLAAAA109415