Resolution No.(18) by the Board of Iftaa`, Research and Islamic Studies:
"Ruling on Islamic Mudarabah for Social Solidarity"
Date: 10/5/1411 AH, corresponding to 27/11/1990
We have received the following question:
What is the ruling of Islamic Sharia on Islamic Mudarabah (co-partnership) for social solidarity and investment for protecting employers, Rahn (security) and students?
Answer:
All perfect praise be to Allah, The Lord of The Worlds; and may His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
Over several sessions, the Board has reviewed the above system of Mudarabah. After thorough examination of its particulars pertaining to the protection of employers, Rahn and students, the Board found that they involve no violation to the rules of Islamic Sharia; therefore, it approves them as they are. And Allah Knows Best.
Chairman of the Iftaa` Board, Chief-Justice, Mohammad Mohailaan
The Grand Mufti of Jordan, Izuldeen Al-Tamimi
Sheikh Ratib Az-zahir
Dr. Abdulsalam Abbadi
Dr. Yaseen Daradkeh
Dr. Ahmad Hilayel
Ibrahim Khashan
Dr. Ibrahim Zeid Al-Kilani