Back to search
The question

What is the ruling on a partner who manages a partnership concealing unreal accounts for the purpose of facilitation, and is an increase in money accepted in his debt for obstructing the interest of the other partner, or should the money be returned without an increase, and do both partners bear the debts of defaulting customers together, or only the managing partner?

Share this answer

Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

Mudarabah: This is when an owner gives money to an agent to trade with it, and the profit is shared between them according to the agreed condition, while the loss is borne solely by the owner of the capital. The agent does not guarantee the principal because he is entrusted with it. If a condition is stipulated that he guarantees it, the contract becomes void, and he is entitled to a fair wage (ajr al-mithl). If the agent does not commit negligence or transgression, he does not guarantee the loss, and he must explain to the owner what happened to the money without concealment. As for outstanding debts, the agent is responsible for them, and he guarantees them if he incurred them without explicit or implicit permission from the owner of the money.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
101639
Imported
Translation status
Source text, unreviewed
Read the full ruling
Read the full answer on Ftawy