How the jurists solve partnership problem in the agricultural activities??
Crafting agricultural product and loss sharing (aPLS) in the place of profit and loss for Islamic agricultural finance. First and foremost, this article which was written by Muhammad Hakimi Bin Mohd Shafiai discussed about the principles used in financing the agricultural industries according to the Islamic jurisprudence. Consequently, in order to solve the riba -based financial issues, partnership contract is commonly introduced and used by the jurists as it proposed an equitable risks and profits sharing. In addition, partnership contract is based on some principle such as mudharabah , musharakah and etc. The author focussed on al-mudaraba, al-musharaka, al-muzara’a and al-musaqa concept with a brief explanation on the definition and practices in economy activities based on Islam. Furthermore, we will be exposed on a several example of partnership contract implemented on agricultural activities and some of inappropriate practices by financial instituti