Is a partnership permissible in Islamic law where I purchase a property in my name, then the partner finds a buyer, and I sell it and give him one-third of the profit? And how can it be transformed into a Shariah-compliant partnership if it is not so?
If the work of the merchant is to seek out a property and then find a buyer for it in exchange for a percentage of the profit, then this is generally permissible brokerage (samsarah). It is a type of ju'alah (stipulated payment for a service) that facilitates things for the buyer and promotes the seller's goods. The majority of scholars stipulated that the broker's fee must be fixed and known, not a percentage of the profit, while some scholars permitted it. Al-Bukhari mentioned the permissibility of a brokerage fee, and it was reported from Ibn Sirin, 'Ata', Ibrahim, and Al- that there is no harm in it. Ibn 'Abbas and Ibn Sirin permitted specifying the fee as a percentage of the profit or whatever exceeds a certain price. This is also supported by the : "Muslims are bound by their conditions."
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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