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Islamic Partnership and Contract Guidelines

Learn about various types of partnerships in Islam, including Manual Partnership, Profit-Sharing Ventures, and sharecropping. Understand job wages regulations and ethics according to Islamic teachings.

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Islamic Partnership and Contract Guidelines

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  1. Lesson 78 Business (1)

  2. Partnership and Contracts • Partnerships for wealth development through trade, agriculture or industry are lawful as enacted and admitted by the Prophet (SAWS) in various forms

  3. Al-`Anan (Cooperative) Partnership: • In which individuals have their shares to invest money and divide profit and loss according to the value of each share.

  4. Al-Abdan (Manual) Partnership: • Individuals participate in a certain activity and agree on dividing the revenue between them.

  5. Al-Wujuh (Well-Known Partner) Partnership: • It is the participation in trade transactions, purchase and sale, while dividing profit and loss.

  6. Financing a Profit-Sharing Venture: • A Muslim gives another a sum of money to invest in a lawful business, and they share both profit and loss according to conditions they had stipulated.

  7. Comprehensive Partnership: • It includes the above dealings, as the two partners authorize each other in carrying out any transactions and they share in both profit and loss.

  8. Sharecropping: • It is to let another cultivate his land in return for a known portion of the harvest.

  9. Watering for Part of the Crop • It is to contract with another concerning irrigation of his crop in return for a known share of their yield.

  10. Evidence from the Qur’an and Sunnah

  11. The legality of partnership: • The Messenger of Allah (SAWS) said: • “Allah, Most High, says: I make a third with two partners as long as one of them does not cheat the other, but when he cheats him, I depart from them.” (Reported by Abu-Dawud)

  12. Manual partnership: • `Abdullah Ibn-Mas`ud (RA) narrated: • “I, `Ammar, and Sa`d became partners in what we would receive on the day of Badr. Sa`d then brought two prisoners, but I and `Ammar did not bring anything.” • (Reported by an-Nasa’iyy and Abu-Dawud)

  13. Financing a Profit-sharing venture: • It was applied in the time of Prophet Muhammad (SAWS) and he agreed upon it. • (Minhaj al-Muslim)

  14. Sharecropping and watering for part of the crop: • `Abdullah Ibn-`Umar (RA) narrated: • “The Prophet concluded a contract with the people of Khaybar to utilize the land on the condition that half the products of fruits or vegetation would be their share.” • (Reported by al-Bukhariyy and Muslim)

  15. Sharecropping and watering • Rafi` Ibn-Khadij (RA) narrated that the Prophet (SAWS) said: • “It is better for one of you to lend his land to his brother than to take a prescribed sum from him.” • (Reported by an-Nasa’iyy)

  16. Job wages: • The Prophet (SAWS) said to a group of the Companions: • “How do you know that Surah Al-Fatihah is a Ruqyah? You have done the right thing. Divide (what you have got as a wage for Ruqyah) and assign for me a share with you.” • (Reported by Muslim)

  17. Job wages: • The Messenger of Allah (SAWS) said: • “Allah, the Exalted, said: I will be the adversary of three persons on the Day of Judgment. One who makes a covenant in My Name and then breaks it, one who sells a free man as a slave and devours his price, and one who hires a workman and having taken full work from him, denied him his wages.” • (Reported by Al-Bukhari)

  18. Job wages: • Abu Sa`id Al-Khudri (RA) narrated: • “The Prophet (SAWS) prohibited (Muslims) to hire a laborer without determining his wages.” • (Reported by Ahmad)

  19. Job wages: • The Prophet (SAWS) also said: • “Anyone who practices medicine when he is not known as a practitioner will be held responsible.” • (Reported by An-Nasa’i, Abu Dawud, • and Ibn Majah)

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