Does the partner recover the capital he paid in US dollars at the exchange rate at the time of the partnership or at the current exchange rate, taking into account the fluctuation of the dollar exchange rate against the Iraqi Dinar?
The partner must know that a partnership contract is a permissible, non-binding contract, and it may be dissolved whenever desired, provided no harm is inflicted upon the other partner. Upon dissolution of the partnership, the partner is only entitled to his capital and his share of the profits, if any. Guaranteeing capital is not permissible under any circumstances. The partnership is dissolved by inventorying existing assets, settling outstanding debts, collecting debts owed to it, and then distributing the remainder among the partners according to their shares. If some partners wish to separate, a partner is given his share, bearing the loss if any. The withdrawing partner is entitled to his remaining share, whether it is the same amount, less, or more, depending on the profit and loss. It can be agreed to pay it in any currency and without obligation, provided that this occurs in the same session of the contract because it is a currency exchange (sarf) that requires immediate mutual possession.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Ftawy
- Original fatwa ID
- 81436
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy