شرکۃ العقد کی بنیاد پر رننگ مشارکہ کا تصور، شرائط اور تطبیقات کا تحقیقی جائزہ

Abstract

Running Musharakah is an emerging and innovative instrument of modern Islamic finance, widely adopted by contemporary interest-free financial institutions. It is a simple and highly beneficial financing tool that facilitates the acquisition of funds and capital for any Shariah-compliant purpose, thereby fulfilling the needs of the client while ensuring a suitable investment opportunity for the bank. This mechanism was primarily introduced as a Shariah-compliant alternative to the conventional running finance facility prevalent in interest-based commercial banks. While the detailed nature and features of Running Musharakah have been discussed in our separate article titled "Characteristics of Running Musharakah", the present article focuses on its foundational basis. Since Running Musharakah is fundamentally based on Shirkat-ul-Aqd, this paper aims to address four core questions:

First, what is the basis of Running Musharakah?

 Second, what is the reality of Shirkat-ul-Aq?

Third, how is the entitlement to profit determined in Running Musharakah?

 And fourth, what are the Shariah conditions for its validity?

This study concisely examines these aspects, avoiding unnecessary details and focusing on the core objectives. May Allah Subhanahu wa Ta'ala grant us the correct understanding of His Deen. Ameen.