المضاربة المشتركة في حسابات الاستثمار في المصارف الإسلامية : دراسة مقارنة بين مصرف الراجحي وبنك معاملات

Abstract

The joint mudarabah contract is premised on the juristic ruling regarding the permissibility of having multiple capital providers in a typical mudarabah contract. An entrepreneur (mudarib) may invest in the capital of such a venture as a partner through a partnership contract. The application of this type of mudarabah contract is not different from the nature of the classical mudarabah provided all relevant Shari‘ah principles are observed. Therefore, there is a need to examine the classical mudarabah known to the early jurists and the joint mudarabah practiced by the modern Islamic Banks in order to identify the similarities and dissimilarities between the two models. Specifically, this study examines the modern application of joint mudarabah in Islamic Banks in general and scrutinises the case studies of Bank Al-Rajhi and Bank Mu’amalat in particular. In essence, the practical implication of this study is to guide the practitioners on the best form of joint mudarabah that complies with the Shari‘ah. The study further examines the practical aspects of bank deposit with specific reference to definition, investment and its application in Islamic banks; and subsequently discusses their legal structure. The methodology adopted in this research is the qualitative method through the consultation of relevant literature that are related to the thematic study of the subject matter. This is followed with an analysis and discussion on the contents of the materials used. It is concluded that there is an explicit dichotomy between the classical mudarabah and the mudarabah practised by the Islamic banks/windows in the modern Islamic banking industry, even though they share common essential features. The study also reveals that the application of counting method known as “daily product” is the best way, and remains the only solution, for the distribution of profits in Islamic banks. The study finds that the contemporary application of mudarabah abides by the rules of Shari‘ah in varying degrees, as the degree varies from one bank to the other and from one jurisdiction to the other.