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Q. I have a considerable amount of money saved by me from my monthly income. I want to invest it in a lawful business which can give me some profit. One of my friends has offered me to enter into partnership with him, I shall give him the money and he will invest it in his business which is already established and run by him. He has agreed to pay me a sum of two thousancs rupees monthly as my share in the profit. Is it permissible for me to enter into partnership on these terms?

A. No. A predetermined amount of money cannot be fixed as a profit in a partnership. If you want to enter into partnership with your friend, you will have to share his risks also. In case he faces a loss, you will have to bear it in proportion to your investment. And if the joint venture brings a profit, the same may be shared on the agreed ratio.  Read more... (282 words, estimated 1:08 mins reading time)

1. A person closed the palm of his hand and says  :    ”Give me that particular item for  whatever money is in my hand.” And it is not known what is in his hand; whether he  has dollars, rands, cents, a gold coin; whether he has one, two or many. Such a  transaction is not permissible.  Read more... (858 words, estimated 3:26 mins reading time)

In the times of the Sahabah, taqleed was observed much. Those of them who could not give much time to acquire knowledge, or could not decide a particuir issue on their own ijtihad, consulted other jurist Sahabah and conducted themselves on that. We find that they observed both Absolute Taqleed and Taqleed Shakhsi, the examples of the former could fill a whole volume. Here are some examples of ‘taqleed mutlaq’ (Absolute Taqleed):

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