for one man to entrust another with funds to trade with in return for an agreed share of the profit. The working partner is not liable for the funds, since he holds them in trust, unless he misuses them or contravenes a prohibition imposed upon him. He is not entitled to maintenance or clothing from the funds unless he undertakes a long journey with a substantial sum, in which case he is entitled to both. If the journey is long but the sum is small, he is entitled to neither maintenance nor clothing. If the journey is short and the sum substantial, he is entitled to maintenance but not clothing. If the journey is short and the sum small, he is entitled to maintenance but not clothing according to ‘Īsā’s transmission from Ibn al-Qāsim, whereas the apparent meaning of the passage in al-Wādiha is that he is entitled to neither.
Section
The working partner is not entitled to any profit until the investor has recovered his capital in cash. According to Ibn al-Qāsim’s position, zakat is deducted from the total funds when the partnership is settled, provided that the investor’s capital and share of the profit together reach the zakat threshold and the funds have been employed for a full lunar year. This book contains evidence that zakat is due on the total funds even if they have not been employed for a full lunar year, provided that the investor’s capital and share of the profit together reach the zakat threshold. Sahnūn held that zakat is deducted from the total funds if they reach the zakat threshold, even if the working partner has not employed them for a full lunar year. He treated the profit, for zakat purposes, as following the original capital. This is also the apparent meaning of Ibn al-Qāsim’s statement in Asbagh’s transmission from him in al-‘Utbiyya.
It is not permissible to stipulate that the working partner must bear the zakat on the capital. The working partner may, however, stipulate that the investor must bear it, since it is obligatory upon him. There are four opinions concerning whether either party to a qirād may stipulate that the other must bear the zakat on the profit:
First: Either party may impose this condition on the other. This is Ibn al-Qāsim’s position in al-Mudawwana and his transmission from Mālik, because it amounts to a specified share of the profit. If the working partner is required to bear the zakat, his work is then in return for four-tenths of the profit plus three-quarters of one-tenth. If the investor is required to bear the zakat, the working partner’s work is in return for a full half of the profit.
Second: Neither party may impose this condition on the other. This is Mālik’s position in the original version of al-Asadiyya.