Labor as a Shareholding in the Joint-Stock Company

The philosophy of business and finance in the Islamic law is different from that in the legal system. The Islamic law is wide and broad in scope, and comprehensive to all aspects of life in terms of application. The share of labor is an essential element in the establishment of companies and their practice for their activity, especially the shareholding companies, but they have not received adequate legislative and legal care, as in the case of cash share or in-kind share. The capital system has had the greatest impact on the role of material elements (money), dwarf and neglect the role of labor, which negatively affected the owners of the shares of labor. This book highlights the share of labor and the possibility of its owners' participation in the capital of the company. There is nothing to prevent allocating a share of the company's annual profits to the laborers, and include it in the company's capital asset. The inclusion of the share in the capital of the shareholding company is not envisaged to be at the time of the establishment of the company, but after realizing the profits of the company as a result of the interaction of the in-kind shares and the labor share.

Autorentext
Assoc prof. Dr. Ammar Abdulwahab Mohammed Nasser had his PhD inIslamic Finance from International Islamic University, Malaysia. He was Assistant Secretary-General of COS for ISRA scientists of the Central Bank of Malaysia COS. Currently; he is the Dean of Scientific Research in Al-Madinah International University, Malaysia MEDIU.