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Mudarabah in Islamic Finance: A Critical Analysis of Interpretation & Implications

Author

Listed:
  • Farooq Aziz
  • Mahwish Anjam
  • Syed Muhammad Fahim
  • Faisal Saleem

Abstract

Mudarabah is one of the important methods of Islamic financing broadly used in different fields including Islamic banking. It is normally considered as lawful and arguments from Quran & Hadith and other sources are given for its justification. But the real fact is that, its legitimacy cannot be proved from any source. The verses of Quran which are presented in favour of it, do not have any relationship with this typical type of partnership. Same as any proof from the books of Hadith cannot be presented in this regard. On the same line, arguments other then Quran and Hadith are also unable to provide any reason for its validity.

Suggested Citation

  • Farooq Aziz & Mahwish Anjam & Syed Muhammad Fahim & Faisal Saleem, 2013. "Mudarabah in Islamic Finance: A Critical Analysis of Interpretation & Implications," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 3(5), pages 1236-1243.
    • Handle: RePEc:asi:ijoass:v:3:y:2013:i:5:p:1236-1243:id:2488
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