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The Study of Contemporary Issues فقه النوازل Resources: Fiqh Council and Scholarly Research Materials Teacher: Abu Fajr AbdulFattaah Bin Uthman Session Seven: Diminishing Partnership Class Recordings: https://torontodawah.com/class-the-study-of-contemporary-issues-abu-fajr-abdulfattaah-bin-uthman/ Spreaker: https://www.spreaker.com/podcast/the-study-of-contemporary-issues--6155653 Class Handouts: https://drive.google.com/drive/folders/1cj07ilvKRYpQOnPlAuaXQYagiOiNLKI9?usp=share_link Timestamps: 0:00:06 Topic: Diminishing partnerships (المشاركة المتناقصة) 00:00:21 Gatherings of Dhikr include studying Halal and Haram, knowing how to buy and sell, etc. 00:01:50 Knowing these rulings is either واجب عيني or واجب كفائي 0:02:17 Diminishing partnership is gradual purchase of another partner's share till full ownership is acquired (widely used in real estate) 0:5:00 Introduced as an alternative to Riba based transactions 0:07:21 - 3 main alternatives to conventional mortgages: 1. Murabaha (cost + purchase) 2. Rent to own 3. Diminishing partnerships 0:10:11 Fatwa of International Islamic Academy 0:15:00 Purchasing partner's shares is binding?! Time restrictions applied! 0:17:00 Fatwa of Majma' Al-Fiqhi Ad-Dawli 0:19:00 Fatwa of AAOIFI 0:25:00 Fatwa of American council 0:26:07 Honest admission CONCLUSION: it's best to avoid such contracts. Although the basis of this transaction (Diminishing partnership) is permissible, the additional clauses render it doubtful - if not completely Ḥarām!
