As per Islamic law, partnership is categorized as consisting of two kinds: proprietary and commercial. Since commercial transactions take place in day-to-day life, it is dealt with in detail in this book. Commercial partnership can be further divided into mufawada, which can be translated as unlimited authority partnership, and inan, which can be equated with limited partnership. Similarity of religion among partners is mandatory under mufawada, but under inan the partners can belong to different religions. Apart from this, prohibition concerning interest levy and dealing in prohibited goods is also part of the partnership contract. Besides mufawada, mudaraba is an arrangement in which an investor or group of investors pays the agent-manager a principally agreed upon share of the profit. For such a partnership also there is no condition of religious similarity.
Islam is based on the benevolence of all mankind, at all times and under all conditions. Prohibition of interest is a part of the principle. Also, certain items are prohibited for sale by Islam; for example wine, pork, meat of dead animals etc. Various scholars have researched this subject, yet many of them lack comment on its specific characteristics. The present modest work hopes to fill this lack. Every precaution has been taken to ensure veracity and to exclude errors. It is hoped this work will be appreciated and welcomed in concerned fields.
ABOUT THE AUTHOR M H Syed
Dr. M.H. Syed, an academic and scholar in his own right, is basically a political scientist. He has further diversified his interests into research and serious studies in subjects like History, International Relations, Human Rights etc. An M.A., M.Phil., Ph.D. in Political Science, M.A. in English Literature, diploma in International Relations and Diploma in Journalism. He began his career as a feature writer in All India Radio and Press Information Bureau. Later, he was associated with United News of India and Times of India. He has also edited several periodicals and penned dozens of articles for esteemed dailies and weeklies., apart from participating in various seminars and symposia. As an author, he has several books to his credit, in addition to dozens edited by him for reputed publishers. An established name in literary circles, Dr. Syed is totally devoted to research and writing.
ABOUT THE AUTHOR Muhammad Moinuddin Khan
Muhammad Moinuddin Khan, an authority on Islamic Law, is an AMU product. He is an author and scholar in his own right. He has earned his M.A. and L.L.B. (Hons.) degrees from Aligarh Muslim University. Completing his studies, he devoted himself to research and serious writing, particularly engaged in working on Islamic Law.
Recently, he has diversified into Islamic Jurisprudence and unearthed many hidden facts. Based in Aligarh, as a full time academic, he is currently busy with his project on Fundamental Aspects of Islamic Law. He has several books to his credit. This is his new work on the subject.
There are no reviews yet.