PREPARED BY MOULANA SHOAYB JOOSUB 1 Diminishing Musharakah(partnership)

PREPARED BY MOULANA SHOAYB JOOSUB 2 Basis of Diminishing Partnership Create Joint Ownership Create Joint Ownership Rent Rent Promise Promise Actual Purchase Actual Purchase Adjustment of the rental Adjustment of the rental

PREPARED BY MOULANA SHOAYB JOOSUB 3 NO PRE-CONDITION NO PRE-CONDITION One-sided Promise may be concluded One-sided Promise may be concluded

PREPARED BY MOULANA SHOAYB JOOSUB 4 Shirkatul Milk Joint Purchase Joint Purchase Bond Take-Over Bond Take-Over Freehold Property, etc Freehold Property, etc Commences when assets of the partners are combined, eg Commences when assets of the partners are combined, eg

PREPARED BY MOULANA SHOAYB JOOSUB 5 Leasing the property Lease Lease To Third Party (Differences of Opinion) To Third Party (Differences of Opinion) To the Partner (Unanimous on permissibility) To the Partner (Unanimous on permissibility)

PREPARED BY MOULANA SHOAYB JOOSUB 6 Promise to Purchase Client’s Client’s Promise Courts Courts to enforce IF : One-sided One-sided Promise Promise Promise Incurred Liability

PREPARED BY MOULANA SHOAYB JOOSUB 7 Purchase of Units from ABL Partner purchases the Units Actual Offer & Acceptance  Basic Rules  Existence  Ownership of Seller  Actual or Constructive Possession  Instant and Absolute  Value  Un-Islamic Purpose  Specifically known & identified Continued...

PREPARED BY MOULANA SHOAYB JOOSUB 8 DDDDelivery must be certain CCCCertainty of Price UUUUnconditional The adjustment of the lease amount

9 Jazakallahu Khairan ! Prepared by Moulana Shoayb Joosub