Journal of Islamic Studies > Volume 26, No. 3, 2014

Al-Mahaassah Business Venture from Shari'ah and Law Perspectives / Nayif Ibn Jam'an Al-Juraidan

This research studies Al-Mahaassah type of business from Islamic and legal perspectives. It aims to identify Al-Mahaasah's components and forms from the legal view in comparison with the Islamic jurisprudential view. It seeks to define Al-Mahaassah's status in Shari'ah and to elaborate the role it plays in investment and growth in accordance with the law, in order to show how consistent its activities are with Shari'ah requirements. Methodologically, the research applies inductive, analytical and comparative approaches. The research makes the following conclusions: Al-Mahaassah legal type of business activity exists in Islamic jurisprudence; Islamic jurisprudence has comprehended its components and forms, adapting it to Shari'ah requirements as well as modern changes and features, thus re-affirming that Shari'ah suits all human affairs at all times. The study has established the appropriate Islamic and legal framework for Al-Mahaasah business venture, while revising and reforming several components and forms. The research recommends the following. All Al-Mahaassah's components and related activities must be subjected to Islamic Shari'ah so that violations can be removed and replaced by Islamically acceptable alternatives in terms of means, ways and requirements.