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WorldOfIslam.info - Malik's Muwatta Hadith
Malik's Muwatta
Book 32 - Qirad
Section: Qirad
Book 32, Number
32.1.1:
Malik related to me from Zayd ibn Aslam that
his father said, "Abdullah and Ubaydullah, the sons of Umar ibn al-Khattab
went out with the army to Iraq. On the way home, they passed by Abu Musa
al-Ashari who was the amir of Basra. He greeted them and made them welcome,
and told them that if there was anything he could do to help them, he would do
it. Then he said, 'There is some of the property of Allah which I want to send
to the amir al-muminin, so I will lend it to you, and you can buy wares from
Iraq and sell them in Madina. Then give the principal to the amir al-muminin,
and you keep the profit.' They said that they would like to do it, and so he
gave them the money and wrote to Umar ibn al-Khattab to take the money from
them. When they came to sell they made a profit, and when they paid the
principal to Umar he asked, 'Did he lend everyone in the army the like of what
he lent you?' They said, 'No.' Umar ibn al-Khattab said, 'He made you the
loan, because you are the sons of the amir al-muminin, so pay the principal
and the profit.' Abdullah was silent. Ubaydullah said, 'You do not need to do
this, amir al-muminin. Had the principal decreased or been destroyed, we would
have guaranteed it.' Umar said, 'Pay it.' Abdullah was silent, and Ubaydullah
repeated it. A man who was sitting with Umar said, 'Amir al-muminin, better
that you make it a qirad. 'Umar said, 'I have made it qirad.' Umar then took
the principal and half of the profit, and Abdullah and Ubaydullah, the sons of
Umar ibn al-Khattab took half of the profit."
Book 32, Number
32.1.2:
Malik related to me from al-Ala ibn Abd
ar-Rahman from his father from his father that Uthman ibn Affan gave him some
money as qirad to use provided the profit was shared between them.
Section: What Is Permitted in Qirad
Book 32, Number
32.2.3:
Malik said, "The recognised and permitted
form of qirad is that a man take capital from an associate to use. He does not
guarantee it and in travelling pays out of the capital for food and clothes
and what he makes good use of, according to the amount of capital. That is,
when he travels to do the work and the capital can support it. If he remains
with his people, he does not have expenses or clothing from the capital."
Malik said, "There is no harm in the two
parties in a qirad helping each other by way of a favour when it is acceptable
to them both."
Malik said, "There is no harm in the investor
of the capital buying some of the goods from the agent in the qirad if that is
acceptable and without conditions."
Malik spoke about an investor making a qirad
loan to a man and his slave, to be used by both. He said, "That is permitted,
and there is no harm in it because the profit is property for his slave, and
the profit is not for the master until he takes it from him. It is like the
rest of his earnings."
Section: What Is Not Permitted in Qirad
Book 32, Number
32.3.4:
Malik said, "When a man owes money to another
man and he asks him to let it stay with him as a quirad, that is disapproved
of until the creditor receives his property. Then he can make it a qirad loan
or keep it. That is because the debtor may be in a tight situation, and want
to delay it to increase it for him."
Malik spoke about an investor who made a
qirad loan to a man, and some of the principal was lost before he used it, and
then he used it and made a profit. The agent wanted to make the principal the
remainder of the money after what was lost from it. Malik said, "His statement
is not accepted, and the principal is made up to its original amount from his
profit. Then they divide what remains after the principal has been repaid
according to the conditions of the qirad."
Malik said, "Qirad loan is only good in gold
or silver coin and it is never permitted in any kind of wares or goods or
articles."
Malik said, "There are certain transactions
which if a long span of time passes after the transaction takes place, its
revocation becomes unacceptable. As for usury, there is never anything except
its rejection whether it is a little or a lot. What is permitted in other than
it is not permitted in it because Allah, the Blessed and the Exalted, said in
His Book, 'If you repent, you have your capital back, not wronging and not
wronged. ' "
32.4 Conditions Permitted in Qirad
Book 32, Number
32.3.5:
Yahya said that Malik spoke about an investor
who made a qirad loan and stipulated to the agent that only certain goods
should be bought with his money or he forbade certain goods which he named to
be bought. He said, "There is no harm in an investor making a condition on an
agent in qirad not to buy a certain kind of animal or goods which he
specifies. It is disapproved of for an investor to make as a condition on an
agent in qirad that he only buy certain goods unless the goods which he orders
him to buy are in plentiful supply and do not fail either in winter or summer.
There is no harm in that case."
Malik spoke about an investor who loaned
qirad money and stipulated that something of the profit should be his alone
without the agent sharing in it. He said, "That is not good, even if it is
only one dirham unless he stipulates that half the profit is his and half the
profit is the agent's or a third or a fourth or whatever. When he names a
percentage, whether great or small, everything specified by that is halal.
This is the qirad of the muslims."
He said, "It is also not good if the investor
stipulates that one dirham or more of the profit is purely his, with out the
agent sharing it and then what remains of the profit is to be divided in half
between them. That is not the qirad of the Muslims."
Section: Conditions Not Permitted in Qirad
Book 32, Number
32.4.6:
Yahya said that Malik said, "The person who
puts up the principal must not stipulate that he has something of the profit
alone without the agent sharing in it, nor must the agent stipulate that he
has something of the profit alone without the investor sharing. In qirad,
there is no sale, no rent, no work, no advance, and no convenience which one
party specifies to himself without the other party sharing unless one party
allows it to the other unconditionally as a favour and that is alright to
both. Neither of the parties should make a condition over the other which
increases him in gold or silver or food over the other party."
He said, "If any of that enters the qirad, it
becomes hire, and hire is only good with known and fixed terms. The agent
should not stipulate when he takes the principal that he repay or commission
anyone with the goods, nor that he take any of them for himself. When there is
a profit, and it is time to separate the capital, then they divide the profit
according to the terms of the contract. If the principal does not increase or
there is a loss, the agent does not have to make up for what he spent on
himself or for the loss. That falls to the investor from the principal. Qirad
is permitted upon whatever terms the investor and the agent make a mutual
agreement, of half the profit, or a third or a fourth or whatever."
Malik said, "It is not permitted for the
agent to stipulate that he use the qirad money for a certain number of years
and that it not be taken from him during that time."
He said, "It is not good for the investor to
stipulate that the qirad money should not be returned for a certain number of
years which are specified, because the qirad is not for a term. The investor
loans it to an agent to use for him. If it seems proper to either of them to
abandon the project and the money is coin, and nothing has been bought with
it, it can be abandoned, and the investor takes his money back. If it seems
proper to the investor to take the qirad loan back after goods have been
purchased with it, he cannot do so until the buyer has sold the goods and they
have become money. If it seems proper to the agent to return the loan, and it
has been turned to goods he cannot do so until he has sold them. He returns
the loan in cash as he took it."
Malik said, "It is not good for the investor
to stipulate that the agent pay any zakat due from his portion of the profit
in particular, because the investor by stipulating that, stipulates fixed
increase for himself from the profit because the portion of zakat he would be
liable for by his portion of the profit, is removed from him.
"It is not permitted for the investor to
stipulate to the agent to only buy from so-and-so, referring to a specific
man. That is not permitted because by doing so he would become his hireling
for a wage."
Malik spoke about an investor in qirad who
stipulated a guarantee for an amount of money from the agent, "The investor is
not permitted to stipulate conditions about his principal other than the
conditions on which qirad is based or according to the precedent of the sunna
of the Muslims. If the principal is increased by the condition of guarantee,
the investor has increased his share of the profit because of the position of
the guarantee. But the profit is only to be divided according to what it would
have been had the loan been given without the guarantee. If the principal is
destroyed, I do not think that the agent has a guarantee held against him
because the stipulation of guarantees in qirad is null and void."
Malik spoke about an investor who gave qirad
money to a man and the man stipulated that he would only buy palms or animals
with it because he sought to eat the dates or the offspring of the animals and
he kept them for some time to use for himself. He said, "That is not
permitted. It is not the sunna of the Muslims in qirad unless he buys it and
then sells it as other goods are sold."
Malik said, "There is no harm in the agent
stipulating on the investor a slave to help him provided that the slave stands
to gain along with him out of the investment, and when the slave only helps
him with the investment, not with anything else."
Section: Qirad In Wares
Book 32, Number
32.5.7:
Yahya said that Malik said, "No one should
make a qirad loan except in coin, because the loan must not be in wares, since
loaning wares can only be worked in one of two ways: Either the owner of the
wares says to the borrower, 'Take these wares and sell them. Buy and sell with
the capital realized according to qirad.' The investor stipulates increase for
himself from the sale of his goods and what relieves him of expenses in
selling it. Or else he says, 'Barter with these goods and sell. When you are
through, buy for me the like of my goods which I gave you. If there is
increase, it is between you and me. 'It may happen that the investor gives the
goods to the agent at a time in which they are in demand and expensive, and
then the agent returns them while they are cheap and he might have bought them
for only a third of the original price or even less than that. The agent then
has a profit of half the amount by which the price of the wares has decreased
as his portion of the profit. Or he might take the wares at a time when their
price is low, and make use of them until he has a lot of money. Then those
wares become expensive and their price rises when he returns them, so he buys
them for all that he has so that all his work and concern have been in vain.
This is an uncertain transaction and is not good. If, however, that is not
known until it has happened, then the wage an agent in qirad would be paid for
selling that, is looked at and he is given it for his concern. Then the money
is qirad from the day the money became cash and collected as coin and it is
returned as a qirad like that."
Section: Hire in Qirad
Book 32, Number
32.6.8:
Yahya said that Malik spoke about a man who
made a qirad loan to a man and he bought wares with it and transported them to
a commercial centre. It was not profitable to sell them and the agent feared a
loss if 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 was greater than
the principal.
Malik said, "If the agent can pay the cost of
the hire from what the capital realized, his way is that. Whatever portion of
the hire is not covered by the principal, the agent must pay it. The investor
is not answerable for any of it. That is because the investor only ordered him
to trade with the principal. The investor is not answerable for other than the
principal. Had the investor been liable, it would have been an additional loss
to him on top of the principal which he invested. The agent cannot put that on
to the investor."
Section: Overstepping in Qirad
Book 32, Number
32.7.9:
Yahya said that Malik spoke about an investor
who made a qirad loan to a man, who used it and made a profit. Then the man
bought with all the profit a slave-girl and he had intercourse with her and
she became pregnant by him, and so the capital decreased. Malik said, "If he
has money, the price of the slave-girl is taken from his property, and the
capital is restored by it. If there is something left over after the money is
paid, it is divided between them according to the first qirad. If he cannot
pay it, the slave-girl is sold so that the capital is restored from her
price."
Malik spoke about an investor who made a
qirad loan to a man, and the agent spent more than the amount of the qirad
loan when buying goods with it and paid the increase from his own money. Malik
said, "The investor has a choice if the goods are sold for a profit or loss or
if they are not sold. If he wishes to take the goods, he takes them and pays
the agent back what he put in for them. If the agent refuses, the investor is
a partner for his share of the price in increase and decrease according to
what the agent paid extra for them from himself."
Malik spoke about an agent who took qirad
money from a man and then gave it to another man to use as a qirad without the
consent of the investor. He said, "The agent is responsible for the property.
If it is decreased, he is responsible for the loss. If there is profit, the
investor has his stipulation of the profit, and then the agent has his
stipulation of what remains of the money."
Malik spoke about an agent who exceeded and
borrowed some of what he had of qirad in money and he bought goods for himself
with it. Malik said, "If he has a profit, the profit is divided according to
the condition between them in the qirad. If he has a loss, he is responsible
for the loss."
Malik said about an investor who paid qirad
money to a man, and the agent borrowed some of the cash and bought goods for
himself with it, "The investor of the capital has a choice. If he wishes, he
shares with him in the goods according to the qirad, and if he wishes, he
frees himself of them, and takes all of the principal back from the agent.
That is what is done with some one who oversteps."
Section: Expenses Permitted in Qirad
Book 32, Number
32.8.10:
Yahya said that Malik spoke about an investor
who made a qirad loan to a man.
He said, "When the investment is large, the
travelling expenses of the agent are taken from it. He can use it to eat and
clothe himself in an acceptable fashion according to the size of the
investment. If it saves him trouble, he can take a wage from some of the
capital, if it is large, and he cannot support himself. There are certain jobs
which an agent or his like are not responsible for, amongst them are
collecting debts, transporting the goods, loading up and so forth. He can hire
from the capital someone to do that for him. The agent should not spend from
the capital nor clothe himself from it while he resides with his family. It is
only permitted for him to have expenses when he travels for the investment.
The expenses are taken from the capital. If he is only trading with the
property in the city in which he resides, he has no expenses from the capital
and no clothing."
Malik spoke about an investor who paid qirad
money to a man, and the agent went out with it and with his own capital. He
said, "The expenses come from the qirad and from his own capital according to
their proportions."
Section: Expenses Not Permitted in Qirad
Book 32, Number
32.9.11:
Yahya said that Malik spoke about an agent
who had qirad money with him and he spent from it and clothed himself. He
said, "He cannot give away any of it, and neither a beggar nor anyone else is
to be given any of it and he does not pay anyone compensation from it. If he
meets some people, and they bring out food and he brings out food, I hope that
that will be permitted to him if he does not intend to bestow something on
them. If he intends that or what is like that without the permission of the
investor, he must get the sanction of the investor for it. If he sanctions it,
there is no harm. If he refuses to sanction it, he must repay it with like if
he has something which is suitable as compensation."
Section: Debts in Qirad
Book 32,
Number 32.10.12:
Yahya said that Malik said, "The generally
agreed on way of doing things among us about an investor who pays qirad money
to an agent to buy goods, and the agent then sells the goods for a price to be
paid later, and has a profit in the transaction, then the agent dies before he
has received payment, is that if his heirs want to take that money, they have
their father's stipulated portion from the profit. That is theirs if they are
trustworthy to take the payment. If they dislike to collect it from the debtor
and they refer him to the investor, they are not obliged to collect it and
there is nothing against them and nothing for them by their surrendering it to
the investor. If they do collect it, they have a share of it and expenses like
their father had. They are in the position of their father. If they are not
trustworthy to do so, they can bring someone reliable and trustworthy to
collect the money. If he collects all the capital and all the profit, they are
in the position of their father."
Malik spoke about an investor who paid qirad
money to a man provided that he used it and was responsible for any delayed
payment for which he sold it. He said, "This is obligatory on the agent. If he
sells it for delayed payment, he is responsible for it."
Section: Goods in the Qirad
Book 32,
Number 32.11.13:
Yahya said that Malik spoke about an investor
who gave qirad money to a man, and then the man sought a loan from the
investor or the investor borrowed money from the agent, or the investor left
goods with the agent to sell for him, or the investor gave the agent dinars to
buy goods with. Malik said, "There is no harm if the investor leaves his goods
with him knowing that if the agent did not have his money and he had asked a
similar thing of him, he would have still done it because of the brotherhood
between them or because it would have been no bother to him and that had the
agent refused that, he would not have removed his capital from him. Or if the
agent had borrowed from the investor or carried his goods for him and he knew
that if the investor had not had his capital with him, he would have still
done the same for him, and had he refused that to him, he would not have
returned his capital to him. If that is true between both of them and it is in
the way of a favour between them and it is not a condition in the terms of the
qirad, it is permitted and there is no harm in it. If a condition comes into
it, or it is feared that the agent is only doing it for the investor in order
to safeguard the capital in his possession, or the investor is only doing it
because the agent has taken his capital and will not return it to him, that is
not permitted in qirad and it is part of what the people of knowledge forbid.'
"
Section: Loans in Qirad
Book 32,
Number 32.12.14:
Yahya said that Malik spoke about a man who
loaned another man money and then the debtor asked him to leave it with him as
a qirad. Malik said, "I do not like that unless he takes his money back from
him, and then pays it to him as a qirad if he wishes or if he wishes keep it."
Malik spoke about an investor who paid a man
qirad money and the man told him that it was collected with him and asked him
to write it for him as a loan. He said, "I do not like that unless he takes
his money from him and then lends it to him or keeps it as he wishes. That is
only out of fear that he has lost some of it, and wants to defer it so that he
can make up what has been lost of it. That is disapproved of and is not
permitted and it is not good."
Section: Accounting in Qirad
Book 32,
Number 32.13.15:
Yahya said that Malik spoke about an investor
paying qirad money to an agent who made a profit and then wanted to take his
share of the profit and the investor was away. He said, "He should not take
any of it unless the investor is present. If he takes something from it, he is
responsible for it until it is accounted for in the division of the capital."
Malik said, "It is not permitted for the
parties involved in a qirad to account and divide property which is away from
them until the capital is present, and the investor is given the principal in
full. Then they divide the profit into their agreed portions."
Malik spoke about a man taking qirad money,
and buying goods with it while he had a debt. His creditors sought and found
him while he was in a city away from the investor, and he had profitable
merchandise whose good quality was clear. They wanted him to sell the
merchandise for them so that they could take his share of the profit. Malik
said, "None of the profit of the qirad is taken until the investor is present.
He takes his principal and then the profit is divided mutually between them."
Malik spoke about an investor who put qirad
money with an agent and he used it and had a profit. Then the principal was
set aside and the profit divided. He took his share and added the share of the
investor to his principal in the presence of witnesses he had called. Malik
said, "It is not permitted to divide the profit unless the investor is
present. If he has taken something here turns it until the investor has
received the principal in full. Then what remains is divided into their
respective portions."
Malik spoke about an investor who put qirad
money with an agent. The agent used it and then came to the investor and said,
"This is your portion of the profit, and I have taken the like of it for
myself, and I have retained your principal in full." Malik said, "I do not
like that, unless all the capital is present, the principal is there and he
knows that it is complete and he receives it. Then they divide the profit
between them. He returns the principal to him if he wishes, or he keeps it.
The presence of the principal is necessary out of fear that the agent might
have lost some of it, and so may want it not to be removed from him and to
keep it in his hand."
Section: A General View of Qirad
Book 32,
Number 32.14.16:
Yahya said that Malik spoke about an investor
who put qirad money with an agent who bought goods with it, and the investor
told him to sell them. The agent said that he did not see any way to sell at
that time and they quarrelled about it. He said, "One does not look at the
statement of either of them. The people of experience and insight concerning
such goods are asked about these goods. If they can see anyway of selling them
they are sold for them. If they think it is time to wait, they should wait."
Malik spoke about a man who took qirad money
from an investor and used it and when the investor asked him for his money, he
said that he had it in full. When he held him to his settlement he admitted
that "Such-and-such of it was lost with me," and he named an amount of money.
"I told you that so that you would leave it with me." Malik said, "He does not
benefit by denying it after he had confirmed that he had it all . He is
answerable by his confession against himself unless he produces evidence about
the loss of that property which confirms his statement. If he does not produce
an acceptable reason he is answerable by his confession, and his denial does
not avail him."
Malik said, "Similarly, had he said, 'I have
had such-and-such a profit from the capital,' and then the owner of the
capital asked him to pay him the principal and his profit, and he said that he
had not had any profit in it and had said that only so it might be left in his
possession, it does not benefit him. He is taken to account for what he
affirmed unless he brings acceptable proof of his word, so that the first
statement is not binding on him."
Malik spoke about an investor who put qirad
money with an agent who made a profit with it. The agent said, "I took the
qirad from you provided that I would have two-thirds." The owner of the
capital says, "I gave you a qirad provided that you had a third." Malik said,
"The word is the word of the agent, and he must take an oath on that if what
he says resembles the known practice of qirad or is close to it. If he brings
a matter which is unacceptable and people do not make qirads like that, he is
not believed, and it is judged to be according to how a qirad like it would
normally be."
Malik spoke about a man who gave a man one
hundred dinars as a qirad. He bought goods with it and then went to pay the
one hundred dinars to the owner of the goods and found that they had been
stolen. The investor says, "Sell the goods. If there is anything over, it is
mine. If there is a loss, it is against you because you lost it." The agent
says, "Rather you must fulfil what the seller is owed. I bought them with your
capital which you gave me." Malik said, "The agent is obliged to pay the price
to the seller and the investor is told, 'If you wish, pay the hundred dinars
to the agent and the goods are between you. The qirad is according to what the
first hundred was based on. If you wish, you are free of the goods.' If the
hundred dinars are paid to the agent, it is a qirad according to the
conditions of the first qirad. If he refuses, the goods belong to the agent
and he must pay their price."
Malik spoke about two people in a qirad who
settled up and the agent still had some of the goods which he used -
threadbare cloth or a waterskin or the like of that. Malik said, "Any of that
which is insignificant is of no importance and belongs to the agent. I have
not heard anyone give a decision calling for the return of that. Anything
which has a price is returned. If it is something which has value like an
animal, camel, coarse cloth or the like of that which fetches a price, I think
that he should return what he has remaining of such things unless the owner
overlooks it."
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The
Holy Quran Quotes
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“Prayer (Salat) is the most important practice in Islam. Allah has ordered the Muslims to be mindful of it. The Holy Qur'an says:"Guard strictly your prayers, especially the Middle Prayer, and stand before Allah with all devotion.”
(Al-Baqarah, 2:238)
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