All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon Prophet Mohammad and upon all his family and companions.
According to the general rule, a partnership contract entails established joint ownership of the company's capital by the partners. Therefore, it is not permissible for one partner to dispose of any of the capital without the permission of the other partner(s), because the nature of a partnership is based on trust (Amānah), and any unilateral action by a partner without the consent of the others contradicts the very essence of this trust.
So, if a partner withdraws a portion of the company’s capital without the consent of the other partner, that withdrawn amount is deducted from the total capital of the company and also from his share of the profit. Imam Al-Shirbini (may Allah have mercy on him) said: "If the owner (of the capital in a Mudarabah) takes back part of it before profit or loss appears, then the remaining capital is what stays after subtracting the retrieved portion, because nothing else is left in the agent’s (Mudarib’s) hand. It is as if he had given him only that amount from the beginning.
But if the owner retrieves it without the agent’s consent after profits appear, then what is retrieved is considered shared—both in profit and capital—based on the proportion of total profit to capital. It is not treated the same as the remaining amount, because the agent’s ownership of his share of the profit has become established, and it is not affected by subsequent losses.”
“But if the retrieval is with the agent’s consent: if he and the owner intend it to be taken from the capital, then it is considered from the capital; and if from the profit, then likewise. But the agent owns—based on proportionality—an amount of what remains in his hand. And if they both are silent regarding the intent, it is assumed to be on the basis of proportionality (i.e., a mixture of capital and profit)." [Mughni Al-Muhtaj/ Vol.3/P.417].
In conclusion, it is not permissible for a partner to withdraw any amount from the company's capital without the knowledge of his partner. If he does so without permission, he is sinful for that action, and it becomes obligatory for him to immediately return what he took. Otherwise, his share in the company’s capital and profits should be reduced by the amount he withdrew. And Allah The Almighty Knows Best.
