اسلامی بینکاری میں مزارعت کی بنیاد پر شراکت- فقہی وشرعی حیثیت (The Investment in agriculture sector on partnership basis in Islamic Banking - A juristic analysis)

Abstract

Agriculture is the back bone of the economy of Pakistan. State bank of Pakistan has also circularized some important instructions and actuate Islamic Banks to enter into this field. Islamic Banks can finance in the field of agriculture through ‘Salam’ mode of financing in a good manner but when the real and ideal instrument of financing in Shari’ah is partnership, so, it should be preferred by Islamic Banks. Islamic Banks must recognize that they have to come out of the bulwark of the banks for partnership. It is very convenient for Islamic Banks to do this on the basis of muzara’ah in the agriculture field as it would be very easy for them to examine the crop and get their share in it after harvesting, while such partnership is not so easy in livestock, poultry and fish forms etc. State Bank of Pakistan should also review its policy according to which trading is not allowed for banks. Trading should be allowed for Islamic Banks at least at some specific level. This inappropriate condition is also a great hindrance for Islamic Banks and they cannot do vastly their financing on the basis of partnership. In agriculture there are three modes of financing: ‘leasing’, ‘salama’ and ‘partnership’, the best amongst these is partnership as it fulfills the goals of Shari’ah(مقاصد شریعہ) in a better way.