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Fatwa CenterWhen the co-partnership starts
Question
My question is about Mudhaarabah: When the Mudhaarabah starts according to Sharee'ah.
Does the Mudhaarabah starts when the body partner (Mudhaarib) starts the work?
What if the capital partner asks the body partner to starts working, then say to him that the Mudarabah between us will starts after one year for instance, is this permissible according to Sharee'ah agreement?
Answer
All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.
The agreement between you should be defined and clear. If it is a kind of Mudhaarabah, which is an Islamic term that means that a person holding the capital money [in your case, your co-partner] should be sharing the profits and losses according to a rate that should be agreed upon between both of you when signing the contract, like agreeing on a half, a third and the like, and we have clarified the conditions for the its validity [Mudhaarabah] in Fatwa 87688, so please refer to it.
Mudhaarabah begins between you is applicable once you start the type of work on which you agreed.
It might be that the business owner wants to hire you in order to work for him with his money for a year, in which case the wages should be defined and known because if the salary is unknown, this makes the contract void.
When the period of work finishes, then you may start Mudhaarabah or renew the hiring contract according to the consent of both of you.
Finally, it should be noted that the question is not very clear to us and the answer is only based on what we understood from it, so if the questioner meant otherwise, he has to clarify it to us and then we may respond accordingly.
Allaah Knows best.
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