equal in quality and in measure, there is no objection to the partnership. They may mix their gold and silver together, and it is permissible for them to do so once they have first displayed the coins. Mālik said: if each of the two partners were to place his money in a separate pouch and then one of the partners took possession of both pouches, and one of those pouches was lost while in his custody, the loss is borne by them both. This applies even though the funds were never physically mixed, once they had been shown and had come into the possession of one of them.

If one partner contributes 500 dirhams and 50 dinars in coined specie, and the other likewise contributes 500 dirhams and 50 dinars, the partnership is valid. But if one brings 500 dirhams while the other brings only 50 dinars, it is not valid—whether or not either of them sells half his dirhams for half the other’s dinars—because the arrangement combines currency-exchange (ṣarf) with partnership. According to Mālik and the majority of his companions, the two contracts may not be combined, for in their view a ṣarf transaction cannot be joined to any other contract. Consequently, one partner may not put forward gold equal in value to the silver contributed by his colleague.

Ashhab, however, allows one partner to contribute gold and the other silver, on condition that each sells half of what he has for half of what the other has, provided the two capitals are of equal value. In that case, profit and loss are shared equally, and their labour must be equal or nearly so. If the capitals are not equal in value, profit and remuneration for labour are divided in proportion to their respective investments.

It is impermissible for the partners’ capital contributions to differ while the profit is equal, or for the capital to be equal while the profit differs. Thus, if one contributes 1,000 and the other 2,000, and they both work equally but stipulate that the profit is to be shared equally, the agreement is invalid; profit and loss must instead follow the proportion of the two capitals. In such a case, the owner of the 1,000 has the right to claim from the owner of the 2,000 the going rate for labour corresponding to the share represented by the thousand.