Hadith 38294

Yahya said that Malik spoke about an investor paying qirad moneyto an agent who made a profit and then wanted to take his share of theprofit and the investor was away. He said, "He should not take any ofit unless the investor is present. If he takes something from it, heis responsible for it until it is accounted for in the division of thecapital."Malik said, "It is not permitted for the partiesinvolved in a qirad to account and divide property which is away fromthem until the capital is present, and the investor is given theprincipal in full. Then they divide the profit into their agreedportions."Malik spoke about a man taking qirad money, andbuying goods with it while he had a debt. His creditors sought andfound him while he was in a city away from the investor, and he hadprofitable merchandise whose good quality was clear. They wanted himto sell the merchandise for them so that they could take his share ofthe profit. Malik said, "None of the profit of the qirad is takenuntil the investor is present. He takes his principal and then theprofit is divided mutually between them."Malik spoke aboutan investor who put qirad money with an agent and he used it and had aprofit. Then the principal was set aside and the profit divided. Hetook his share and added the share of the investor to his principal inthe presence of witnesses he had called. Malik said, "It is notpermitted to divide the profit unless the investor is present. If hehas taken something here turns it until the investor has received theprincipal in full. Then what remains is divided into their respectiveportions."Malik spoke about an investor who put qirad moneywith an agent. The agent used it and then came to the investor andsaid, "This is your portion of the profit, and I have taken the likeof it for myself, and I have retained your principal in full." Maliksaid, "I do not like that, unless all the capital is present, theprincipal is there and he knows that it is complete and he receivesit. Then they divide the profit between them. He returns the principalto him if he wishes, or he keeps it. The presence of the principal isnecessary out of fear that the agent might have lost some of it, andso may want it not to be removed from him and to keep it in his hand."