What Is a Partnership Deed?

Partnership contract, Arabic translation of shirkah. Islamic business partnership contract. Based on Islamic commercial law and practice. Divided by contract content: (1) unlimited partnership. Equivalent to a handicraft cooperative. The partners, except for clothing, food, and living, take care of themselves. All property is owned by the collective. Each member has the same equity and responsibility. They work together and share income. (2) Limited partnership. Equivalent to a joint venture. Partners invest or do business with funds. Profits are distributed according to shares, while losses are shared according to the proportion of capital contribution. (3) Credit partnership. Equivalent to cooperative operation. Partners do business on shared credit, share profits and share losses. ^[1]