Ruling for Giving a legal guarantee for capital in mudaraba contract

Mudaraba contract

Ruling for Giving a legal guarantee for capital in mudaraba contract

Question:

Is it allowed to require for capital security guarantee in mudaraba contract? Thus, if the project were a failure, the guarantor should return the capital and the profit that he had gained?

May Allah gives us guidance…

Answer:

An answer provided by Sheikh Dr. Sa’d Al Khatslan:

لايصح اشتراط ضمان رأس المال ولا اشتراط نسبة مقطوعة من الأرباح ؛ لأن هذا يحولها من كونها مضاربة إلى قرض بفائدة وهو محرم

It is not valid to require any guarantee for a capital, nor for the acquired profit. That is because such requirement will change the status of mudaraba contract into a debt transaction with interest, which is forbidden.

وإنما الجائز هو اشتراط نسبة مشاعة من الأربح (كالربع أو الثلث مثلا أو بالنسبة المئوية 18%أو30% مثلا )، وفي حال الخسارة لايضمن المضارب شيئا لأنه قد خسر جهده ، والخسارة إنما تكون على رب المال

What permissible is to require for the ratio of the profit share (for example: 1/4 or 1/3, or based on percentage: 18% or 30%).

And then, if there were losses, the business manager (mudharib) is not burdened to return the capital at all. Because he is already suffered a loss for the works that he had done. Thus, the financial losses should be borne by the capital owner.

Source: http://www.saad-alkthlan.com/text-91

Article of www.Syaria.com

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