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Questions and Answers
Which of the following best describes musyarakah?
Which of the following best describes musyarakah?
- A form of partnership where two or more persons combine their capital or labour together (correct)
- A form of partnership where two or more persons combine their capital only
- A form of partnership where two or more persons combine their capital and labour separately
- A form of partnership where two or more persons combine their labour only
Which schools of thought consider musyarakah a valid and legitimate contract in Islam?
Which schools of thought consider musyarakah a valid and legitimate contract in Islam?
- All schools of thought (correct)
- Hanafiyyah and Malikiyyah
- Shafi’iyyah
- Hanbaliyah
What do partners in musyarakah share?
What do partners in musyarakah share?
- Rights and liabilities (correct)
- Losses
- Capital
- Profits
Can musyarakah be formed with only capital?
Can musyarakah be formed with only capital?
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What is the consensus of opinion regarding musyarakah among the jurists?
What is the consensus of opinion regarding musyarakah among the jurists?
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Study Notes
Musyarakah in Islam
- Musyarakah is a partnership contract in Islamic finance where two or more parties contribute capital and labor to a joint venture, sharing profits and losses.
Validity of Musyarakah
- The Hanafi, Maliki, and Shafi'i schools of thought consider musyarakah a valid and legitimate contract in Islam.
Partnership in Musyarakah
- Partners in musyarakah share profits and losses in proportion to their capital contributions.
Forming Musyarakah
- Musyarakah cannot be formed with only capital; it requires both capital and labor contributions from partners.
Consensus on Musyarakah
- There is a consensus of opinion regarding musyarakah among Islamic jurists, with all major schools of thought accepting it as a legitimate contract.
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Description
Test your knowledge on Mudarabah, an Islamic financial concept of partnership. Learn about the roles of sahib al-mal and mudarib, and how this form of partnership operates in various ventures.
