Is it permissible in Islamic law for a limited partnership (sharikat al-tawṣiyah al-basīṭah) that a limited partner (al-sharīk al-mawṣī) bears a share of the loss not exceeding the amount of their capital, which may lead to the general partners (al-shurakāʾ al-mutadāminīn) bearing a share of the loss exceeding their proportion of capital contribution, and that the limited partner’s share of the loss is less than their proportion of capital contribution? Or must the proportion of loss borne by all partners be equal to their proportion of capital contribution? And what is the ruling on the partnership in the event of impermissibility?

There is no issue with a limited partner stipulating that they will only bear losses up to the amount of their capital, as long as the loss does not exceed the capital. However, if the loss covers the capital and exceeds it, then it is divided among all partners—both limited and general—according to the proportion of their shares in the capital.

If a guarantee clause is ruled invalid, the more prominent opinion is that it does not lead to the invalidity of the partnership contract, because it does not result in uncertainty regarding the profit. If the contract is indeed invalidated, then the profit is divided according to the partners' shares in the capital.