What is the ruling on participating in the shares of a pharmaceutical warehouse under conditions that include bearing profit and loss, with a difference in how profits are calculated based on whether the pharmacy withdraws medicines from the warehouse or not, and how can this transaction be rectified if it is impermissible?

It is permissible for a pharmaceutical company to issue shares for participation in it, provided that the share represents a common portion of its assets, and profit or loss is commensurate with the shares. The distribution of profit must be according to the number of shares, and it is not permissible to link the profit to the pharmacy's purchases, as this contradicts the reality of partnership. There must be a separation between participation through shares and purchasing from the pharmacy, and the pharmacy should be treated as an external party when purchasing from it. The scenario mentioned in the question is prohibited and is not based on a true partnership.

As for preferred shares, it is permissible to differentiate in profits by increasing the percentage, provided that this percentage is agreed upon at the time of the contract, because the condition for the validity of a partnership is agreement on a known percentage of the profit, not of the capital. It is not permissible to privilege the guarantee of capital or the guarantee of a certain amount of profit, or to prioritize them during liquidation or profit distribution, as decided by the Islamic Fiqh Academy. Likewise, it is not permissible to privilege obtaining the value of shares during liquidation before other partners, nor to privilege the guarantee of capital and profit. However, it is permissible to grant some shares procedural or administrative characteristics.