The feature of Musharakah and Ijarah of Islamic banking and finance Explain in your own words 1. Imam Ibn al-Munzir stat

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The Feature Of Musharakah And Ijarah Of Islamic Banking And Finance Explain In Your Own Words 1 Imam Ibn Al Munzir Stat 1 (24.92 KiB) Viewed 72 times

The feature of Musharakah and Ijarah of Islamic banking and finance Explain in your own words 1. Imam Ibn al-Munzir states in his book al-Ijma: "And they (Muslim jurists) agree on the validity of partnership where each of the two partners contributes capital in dinar or dirham, and co-mingles the two capitals to form a single property which is indistinguishable, and they would sell and buy what they see as (beneficial) for the business, and the surplus will be distributed between them whilst the deficit will be borne together by them, and when they really carry out (as prescribed), the partnership is valid." Determine the feature of musharakah contract. (8 marks)