it is, however, distinguished by being exempt from most of the restrictions that bind joint-stock companies, while the partners’ liability remains limited to the shares they own.
There is also a type of company that combines the attributes of civil and commercial companies. It is called a “civil company in commercial form” when a civil company adopts one of the recognised commercial structures, such as the joint-stock company or the limited liability company.
All of the contemporary forms of company mentioned above are valid, for the basic rule in financial dealings is permissibility.

• Resolution of the Islamic Fiqh Academy concerning financial markets and participation in companies: Resolution no. 63:
  In the name of Allah, the Most Gracious, the Most Merciful.
  All praise belongs to Allah, Lord of the Worlds, and may blessings and peace be upon our master Muhammad, the Seal of the Prophets, and upon his family and companions.
  The Council of the Islamic Fiqh Academy, convened at its seventh session in Jeddah, Kingdom of Saudi Arabia, from 7 to 12 Dhu’l-Qaʿdah 1412 AH (9–14 May 1992 CE),
  after examining the papers submitted to the Academy on the subject of financial markets—shares, options, commodities, credit—and after listening to the discussions that took place on the matter,
  resolved:
  First: Shares

1. Participation in companies
   (a) Since the default rule in transactions is permissibility, the establishment of a joint-stock company with