Musharakah, Mudarabah : partner with non-Muslim

Fatawa Question

[Question One] Assalm Alaykum Dear Dr. Monzer, I have an urgent question and I would appreciate your answer. I want to establish new company and my partner is Christian, I have told him that all financial transactions have to be Sharia compliant and he agreed on that so I will take care of all financial aspects to make sure we only deal with Islamic Bank. Please let me know if this permissible in Islam. Can I hire non-Muslim to work for in this company, is there any problem with that according to Islamic rules ? [Question Two] Assakm Alaykum Dear Dr. Monzer, Thank you for your answer, I have more questions 1-Am I obligated to find the source of the money that my partners are bringing to the business, I will make sure all transaction are Shari’ah compliant but I have no way to find out if the source of the money is Halal or not ? 2-One of our business lines will be to sell Software solution for banks, we will sell to Islamic and non-Islamic banks, is this considered Halal ? 3-My wife inherited shares from her father, these shares happened to be in traditional banks so my wife’s family is waiting for the stock prices to go up so they can distribute the cash. Is this consider Halal money if my wife took her share of this or we should not take this money ? Thanks

Fatwa

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Publication Date

2007-12-30

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Speculation
• Partnerships

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-734543

• APA
• MLA
• AMA