عصری اسلامی بینکاری اور عقدِ مضاربہ: مروجہ اشکال کا فقہی و تجزیاتی مطالعہ

Contemporary Islamic Banking and the Contract of Mudarabah: A Jurisprudential and Analytical Study of Current Practices

Abstract

This research paper explores the practical application of the Mudarabah (Profit-Sharing) contract within the framework of contemporary Islamic banking. While Mudarabah is a foundational pillar of Islamic finance, its modern execution in banking products—particularly in savings and investment accounts—presents various jurisprudential challenges. The study employs an analytical and comparative methodology to examine the transition of Mudarabah from its classical juristic origins to its current standardized forms in financial institutions.

The primary focus of this research is to evaluate the Shariah compliance of prevailing Mudarabah models, such as Unrestricted Mudarabah (Mudarabah al-Mutlaqah) used in deposit mobilization and Restricted Mudarabah (Mudarabah al-Muqayyadah) in specific investment tiers. Key issues analyzed include profit-distribution mechanisms, the impact of administrative fees, and the juristic implications of loss-bearing responsibilities. By bridging the gap between classical Fiqh and modern financial engineering, this paper concludes with recommendations for enhancing the transparency and Shariah integrity of Mudarabah-based products to better reflect the core Islamic principle of risk-sharing.