The Ijārah Contract

Ijārah, often translated as hiring or leasing, in Islamic mercantile law refers to the sale of the usufruct of corporeal entities or living beings, both man and animal, for an agreed upon period, in exchange for a known remuneration.

The Muḍarabah Contract – Silent Partnership the Islamic Way

Muslims believe that Islam is suitable for all times and circumstances. This belief is sanctioned by copious textual evidences from the Holy Qur‘ān as well as a number of traditions of the Prophet, upon him peace and blessings. Furthermore, the success of Islam as a practical way of life, especially apparent in its formative years, has further strengthened this belief.

Challenges from Sasol’s Inzalo Share Initiative

Sasol’s recent share offering has challenged our assumptions on more than one level. In what follows an attempt is made not to simply formulate an opinion on the permissibility of the shares on offer in the Inzalo initiative, but to place this issue within a wider framework where ways are explored in which this one issue becomes a means to generate a keener sense of responsibility on the part of both laymen and ‘ulamā. It would be appropriate, however, to begin with a brief description of the offering.