Seadet-i Ebediyye - Endless Bliss Fifth Fascicle

usinessmen, banks will accelerate their useful services that we
explained earlier in the text. They will add more weight on their
earnings without interest. They will both earn more and contribute
more to national growth. They will pay the wages of their
employees out of their halâl earnings.
45 – COMPANIES
It is stated as follows in Ibni ’Âbidîn and also in ’Âtif Begh’s
commentaries to the 1045 th. and the 1060 th. and the 1326 th. and
later articles of the book Majalla:
‘Company’ means ‘partnership’. In Islam there are two kinds of
company:
1– Company (joint ownership) of property: It is a company
wherein two or more people co-own some property that is an ’ayn
or a deyn by way of inheritance or gift-making or by way of
purchase made on the basis of a certain proportion in respect of
payment. Or they may have formed the co-ownership by
commingling their shares of property into an inseparable single
unit. In the former case, they co-own each and every particle and
every grain of the commonly owned property. In the second, the
motes of each of them have been mingled with the motes of the
other. In the former case each shareholder may sell his hissa-ishâyi’a
to anyone at will. In the second, a shareholder’s hissa-ishâyi’a
can be sold only to (one of) the other shareholders, which
again, is subject to the choice of the owner of the hissa-i-shâyi’a,
and dependent upon the permission of the other shareholders. A
shareholder may make use of the commonly owned building or
land in proportion with the share he holds and on the condition
that the other shareholders will not be given harm. Yet he cannot
let others utilize his share without permission (of the other
shareholders). He may use others’ shares as well, with their
permission. Of the mithlî property, he may separate the item that
falls to his share and use it, provided it should be done in such a
manner as will not cause fâiz (interest). He may consume his share
of the fruit. He may sell the perishable items and distribute the
themen (price) to the shareholders. He may sell his share to
anyone without (the others’) permission. He cannot be forced to
buy a share or to sell his share (to anyone, shareholders or others
alike). An instance of co-ownership of property manifests itself in
the shares of meat that a certain number of people have of a
bovine animal that they have bought and slaughtered as a common
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