Category:The Book of Qirad in Muwata Malik

List of Chapters in The Book of Qirad

Combined Book Name

The Book of Qirad*Muwata Malik Belongs to the following Combined Book Name

The Book of Qirad Summary

1. Malik related to me from al Ala ibn Abd ar Rahman from his fatherfrom his father that Uthman ibn Affan gave him some money as qirad touse provided the profit was shared between them
2. It is disapproved of for an investor to make as acondition on an agent in qirad that he only buy certain goods unlessthe goods which he orders him to buy are in plentiful supply and donot fail either in winter or summer
3. In qirad there is no sale no rent no work no advance and no conveniencewhich one party specifies to himself without the other party sharingunless one party allows it to the other unconditionally as a favourand that is alright to both
4. He said It is notgood for the investor to stipulate that the qirad money should not bereturned for a certain number of years which are specified becausethe qirad is not for a term
5. Malik said There is no harm in the agent stipulating on the investor a slave tohelp him provided that the slave stands to gain along with him out ofthe investment and when the slave only helps him with the investment not with anything else
6. Yahya said that Malik said No one should make a qirad loanexcept in coin because the loan must not be in wares since loaningwares can only be worked in one of two ways Either the owner of thewares says to the borrower Take these wares and sell them
7. It may happen that the investor gives the goods to the agent at atime in which they are in demand and expensive and then the agentreturns them while they are cheap and he might have bought them foronly a third of the original price or even less than that
8. Then those wares become expensive and their price riseswhen he returns them so he buys them for all that he has so that allhis work and concern have been in vain
9. Thenthe money is qirad from the day the money became cash and collected ascoin and it is returned as a qirad like that
10. It was not profitable to sell them and the agent feared a lossif he sold them so he hired transport to take them to another city and he sold them there and made a loss and the cost of the hire wasgreater than the principal
11. Yahya said that Malik said The generally agreed on way of doingthings among us about an investor who pays qirad money to an agent tobuy goods and the agent then sells the goods for a price to be paidlater and has a profit in the transaction then the agent dies beforehe has received payment is that if his heirs want to take that money they have their father s stipulated portion from the profit
12. Yahya said that Malik spoke about an investor who gave qiradmoney to a man and then the man sought a loan from the investor orthe investor borrowed money from the agent or the investor left goodswith the agent to sell for him or the investor gave the agent dinarsto buy goods with
13. Malik said There is no harm if the investorleaves his goods with him knowing that if the agent did not have hismoney and he had asked a similar thing of him he would have stilldone it because of the brotherhood between them or because it wouldhave been no bother to him and that had the agent refused that hewould not have removed his capital from him
14. Or if the agent hadborrowed from the investor or carried his goods for him and he knewthat if the investor had not had his capital with him he would havestill done the same for him and had he refused that to him he wouldnot have returned his capital to him
15. If that is true between both ofthem and it is in the way of a favour between them and it is not acondition in the terms of the qirad it is permitted and there is noharm in it
16. If a condition comes into it or it is feared that theagent is only doing it for the investor in order to safeguard thecapital in his possession or the investor is only doing it becausethe agent has taken his capital and will not return it to him that isnot permitted in qirad and it is part of what the people of knowledgeforbid
17. That is only out of fear that he has lost some of it andwants to defer it so that he can make up what has been lost of it
18. Malik said Similarly had he said I have had such and such a profit from thecapital and then the owner of the capital asked him to pay him theprincipal and his profit and he said that he had not had any profitin it and had said that only so it might be left in his possession itdoes not benefit him

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