Critical Analysis on the Essence of Muá¸Ärabah and MushÄrakah and Its Relation to ḌamÄn
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https://doi.org/10.32890/mmj.22.2018.9668Keywords:
Muqtada al-‘aqd, Muá¸Ärabah, MushÄrakah, DamÄnAbstract
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Typically in muḍārabah, the rabb al-māl shall bear the loss from the investment while the muḍārib just loses his efforts [al-Kāsānī, 2000; Ibn Qudāmah, n.d]. On the other hand, all scholars are of the view that all partners in mushārakah should bear the loss in proportion to their capital contribution [al-Kāsānī, 2000; Ibn Qudāmah, n.d]. A third party may undertake to bear the loss of capital due to misconduct or negligence on the part of the manager for both contracts. The rabb al-māl (capital provider) may take collateral from the muḍārib, provided that the collateral can only be liquidated in
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