Assalamualaikum,
I and my friend wanted to start a partnership business similar to bank(on a smaller scale).
We try to find depositors who are ready to deposit money. We then find enterprises which run halal business and enter into partnership with them on profit and loss sharing basis.
In case of loss we take the responsibility of returning the depositors money. In case of profit we share a percentage with the depositor.
Is this model of setting up business halal?
Please guide me and save me from doing haram earning.
Jazakallah khair
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
We commend you on your sensitivity of earning a Halaal income. This stems from your consciousness of Imaan.
According to the information provided, the partnership model you wish to undertake is a combination of two partnership models.
(1) The first partnership is between you and the investors/depositors. This is based on the Mudharabah Model.
Mudarabah is wherein one partner contributes investment capital to the partnership while the other partner contributes management skills. The investor is referred to as the Rab Ul-Maal while the entrepreneur is referred to as the Mudharib.[1]
The investor and the entrepreneur mutually agree to share a percentage of the net profit, for example, 60% and 40%. [2]
All expenses will be paid from the profit and the balance will then be distributed as per agreement.
The entrepreneur cannot receive a wage or a fixed percentage based on the capital amount. [3]
All losses will be attributed to the investor. The Mudharib will merely lose his efforts in managing the Mudharabah portfolio. [4]
The above condition is subject to the fact that the Mudharib has worked with due diligence. If it is proven that, he has breached his obligations or he failed to discharge his obligations under this agreement, then the Mudharib will be liable for the loss of the Mudharabah.
The above model could be understood with the following example:
The investors/people will invest funds; they will be referred to as the Rab Ul-Maal, you will be referred to as the Mudharib.
You and the investors will mutually agree to share a percentage of the net profit, for example, 60% and 40%.
You will not be entitled to receive a wage or a fixed percentage based on the capital amount.
All losses will be attributed to the investor. You will merely lose your efforts in managing the Mudharabah portfolio in the case of no profit.
2) The second partnership is between you and the Halaal Enterprises. This is based on the Musharakah Model. [5]
Musharakah is a joint enterprise formed for conducting business in which all partners share the profit according to a specific ratio, while the loss is shared according to the ratio of the capital invested. All losses will be based on capital contribution. [6]
The above model could be understood with the following example:
This is when two or more partners invest some of their capital in which all the partners share the profit or loss of the joint venture on an agreed ratio.
You, representing the Mudharabah partnership will invest and contribute the Mudharabah capital in the Musharakah. As a partner/shareholder in a Musharakah agreement, you will be entitled to a profit through an agreed ratio. The loss will be based on capital contribution.
The rules and laws of Musharakah and Mudharabah will govern both Partnership Models.
You may refer to this link for the Musharakah and Mudharabah Contracts prepared by the Darul Iftaa.
And Allah Ta’āla Knows Best
Muhammad I.V Patel
Student Darul Iftaa
Lusaka, Zambia
Checked and Approved by,
Mufti Ebrahim Desai.
_________
[1] بدائع الصنائع في ترتيب الشرائع (6/ 79)
(وَأَمَّا) السُّنَّةُ، فَمَا رُوِيَ عَنْ ابْنِ عَبَّاسٍ – رَضِيَ اللَّهُ عَنْهُمَا – أَنَّهُ قَالَ: «كَانَ سَيِّدُنَا الْعَبَّاسُ بْنُ عَبْدِ الْمُطَّلِبِ إذَا دَفَعَ الْمَالَ مُضَارَبَةً، اشْتَرَطَ عَلَى صَاحِبِهِ أَنْ لَا يَسْلُكَ بِهِ بَحْرًا وَلَا يَنْزِلَ بِهِ وَادِيًا، وَلَا يَشْتَرِيَ بِهِ دَابَّةً ذَاتَ كَبِدٍ رَطْبَةٍ، فَإِنْ فَعَلَ ذَلِكَ ضَمِنَ فَبَلَغَ شَرْطُهُ رَسُولَ اللَّهِ – صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ – فَأَجَازَ شَرْطَهُ» وَكَذَا بُعِثَ رَسُولُ اللَّهِ – صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ – وَالنَّاسُ يَتَعَاقَدُونَ الْمُضَارَبَةَ فَلَمْ يُنْكِرْ عَلَيْهِمْ وَذَلِكَ تَقْرِيرٌ لَهُمْ عَلَى ذَلِكَ؛ وَالتَّقْرِيرُ أَحَدُ وُجُوهِ السُّنَّةِ
[2] بدائع الصنائع في ترتيب الشرائع (6/ 85)
(وَمِنْهَا) أَنْ يَكُونَ الْمَشْرُوطُ لِكُلِّ وَاحِدٍ مِنْهُمَا مِنْ الْمُضَارِبِ وَرَبِّ الْمَالِ مِنْ الرِّبْحِ جُزْءًا شَائِعًا، نِصْفًا أَوْ ثُلُثًا أَوْ رُبْعًا، فَإِنْ شَرَطَا عَدَدًا مُقَدَّرًا بِأَنْ شَرَطَا أَنْ يَكُونَ لِأَحَدِهِمَا مِائَةُ دِرْهَمٍ مِنْ الرِّبْحِ أَوْ أَقَلُّ أَوْ أَكْثَرُ وَالْبَاقِي لِلْآخَرِ لَا يَجُوزُ، وَالْمُضَارَبَةُ فَاسِدَةٌ؛ لِأَنَّ الْمُضَارَبَةَ نَوْعٌ مِنْ الشَّرِكَةِ، وَهِيَ الشَّرِكَةُ فِي الرِّبْحِ، وَهَذَا شَرْطٌ يُوجِبُ قَطْعَ الشَّرِكَةِ فِي الرِّبْحِ؛ لِجَوَازِ أَنْ لَا يَرْبَحَ الْمُضَارِبُ إلَّا هَذَا الْقَدْرَ الْمَذْكُورَ، فَيَكُونُ ذَلِكَ لِأَحَدِهِمَا دُونَ الْآخَرِ، فَلَا تَتَحَقَّقُ الشَّرِكَةُ، فَلَا يَكُونُ التَّصَرُّفُ مُضَارَبَةً
[3] بدائع الصنائع في ترتيب الشرائع (6/ 106)
(وَأَمَّا) مَا فِيهِ النَّفَقَةُ فَالنَّفَقَةُ فِي مَالِ الْمُضَارَبَةِ، وَلَهُ أَنْ يُنْفِقَ مِنْ مَالِ نَفْسِهِ، مَا لَهُ أَنْ يُنْفِقَ مِنْ مَالِ الْمُضَارَبَةِ عَلَى نَفْسِهِ، وَيَكُونُ دَيْنًا فِي الْمُضَارَبَةِ حَتَّى كَانَ لَهُ أَنْ يَرْجِعَ فِيهَا؛ لِأَنَّ الْإِنْفَاقَ مِنْ الْمَالِ وَتَدْبِيرَهُ إلَيْهِ، فَكَانَ لَهُ أَنْ يُنْفِقَ مِنْ مَالِهِ، وَيَرْجِعَ بِهِ عَلَى مَالِ الْمُضَارَبَةِ، كَالْوَصِيِّ إذَا أَنْفَقَ عَلَى الصَّغِيرِ مِنْ مَالِ نَفْسِهِ إنَّ لَهُ أَنْ يَرْجِعَ بِمَا أَنْفَقَ عَلَى مَالِ الصَّغِيرِ لِمَا قُلْنَا، كَذَا هَذَا لَهُ أَنْ يَرْجِعَ بِمَا أَنْفَقَ فِي مَالِ الْمُضَارَبَةِ
[4] بدائع الصنائع في ترتيب الشرائع (6/ 87)
فَإِذَا ظَهَرَ فِي الْمَالِ رِبْحٌ صَارَ شَرِيكًا فِيهِ بِقَدْرِ حِصَّتِهِ مِنْ الرِّبْحِ؛ لِأَنَّهُ مَلَكَ جُزْءًا مِنْ الْمَالِ الْمَشْرُوطِ بِعَمَلِهِ، وَالْبَاقِي لِرَبِّ الْمَالِ؛ لِأَنَّهُ نَمَاءُ مَالِهِ، فَإِذَا فَسَدَتْ بِوَجْهٍ مِنْ الْوُجُوهِ صَارَ بِمَنْزِلَةِ الْأَجِيرِ لِرَبِّ الْمَالِ، فَإِذَا خَالَفَ شَرْطَ رَبِّ الْمَالِ صَارَ بِمَنْزِلَةِ الْغَاصِبِ، وَيَصِيرُ الْمَالُ مَضْمُونًا عَلَيْهِ، وَيَكُونُ رِبْحُ الْمَالِ كُلُّهُ بَعْدَ مَا صَارَ مَضْمُونًا عَلَيْهِ لَهُ؛ لِأَنَّ الرِّبْحَ بِالضَّمَانِ لَكِنَّهُ لَا يَطِيبُ لَهُ فِي قَوْلِ أَبِي حَنِيفَةَ وَمُحَمَّدٍ رَحِمَهُمَا اللَّهُ وَعِنْدَ أَبِي يُوسُفَ – رَحِمَهُ اللَّهُ – يَطِيبُ لَهُ وَهُوَ عَلَى اخْتِلَافِهِمْ فِي الْغَاصِبِ وَالْمُودَعِ إذَا تَصَرَّفَا فِي الْمَغْصُوبِ الْوَدِيعَةِ وَرَبِحَا
[5] بدائع الصنائع في ترتيب الشرائع (6/ 56)
(أَمَّا) الْأَوَّلُ: وَهُوَ الشَّرِكَةُ بِالْأَمْوَالِ: فَهُوَ أَنْ يَشْتَرِكَ اثْنَانِ فِي رَأْسِ مَالٍ، فَيَقُولَانِ اشْتَرَكْنَا فِيهِ، عَلَى أَنْ نَشْتَرِيَ وَنَبِيعَ مَعًا، أَوْ شَتَّى، أَوْ أَطْلَقَا عَلَى أَنَّ مَا رَزَقَ اللَّهُ عَزَّ وَجَلَّ مِنْ رِبْحٍ، فَهُوَ بَيْنَنَا عَلَى شَرْطِ كَذَا، أَوْ يَقُولَ أَحَدُهُمَا: ذَلِكَ، وَيَقُولُ الْآخَرُ: نَعَمْ
[6] بدائع الصنائع في ترتيب الشرائع (6/ 59)
(وَمِنْهَا) : أَنْ يَكُونَ الرِّبْحُ مَعْلُومَ الْقَدْرِ، فَإِنْ كَانَ مَجْهُولًا تَفْسُدُ الشَّرِكَةُ؛ لِأَنَّ الرِّبْحَ هُوَ الْمَعْقُودُ عَلَيْهِ، وَجَهَالَتُهُ تُوجِبُ فَسَادَ الْعَقْدِ كَمَا فِي الْبَيْعِ وَالْإِجَارَةِ
(وَمِنْهَا) : أَنْ يَكُونَ الرِّبْحُ جُزْءًا شَائِعًا فِي الْجُمْلَةِ، لَا مُعَيَّنًا، فَإِنْ عَيَّنَا عَشَرَةً، أَوْ مِائَةً، أَوْ نَحْوَ ذَلِكَ كَانَتْ الشَّرِكَةُ فَاسِدَةً؛ لِأَنَّ الْعَقْدَ يَقْتَضِي تَحَقُّقَ الشَّرِكَةِ فِي الرِّبْحِ وَالتَّعْيِينُ يَقْطَعُ الشَّرِكَةَ لِجَوَازِ أَنْ لَا يَحْصُلَ مِنْ الرِّبْحِ إلَّا الْقَدْرُ الْمُعَيَّنُ لِأَحَدِهِمَا، فَلَا يَتَحَقَّقُ الشَّرِكَةُ فِي الرِّبْحِ