Is it permissible to issue shares with voting rights and others with rights to profits only?
It is permissible to issue shares that do not grant their holders voting rights, as there is no harm in the variation of administrative and procedural characteristics of shares. However, it is not permissible to issue preferred shares that guarantee capital or profit, or that are given priority during liquidation or profit distribution. As for shares that grant priority in non-financial rights (such as the number of votes), contemporary scholars hold two opinions: impermissibility due to the lack of justification for the disparity, and permissibility because the preference is administrative and not financial, provided that it is stipulated in the subscription law.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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