Waqf, Bait-ul-Mal and joint-stock treatment are not exact copies of a modern corporation. But together they show that Islamic jurisprudence can recognize rights, ownership and obligations at an institutional level.
This makes juridical personality a concept that can be reasoned about within Shari‘ah rather than dismissed as completely alien.
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Juridical Person in Islamic Law: Waqf, Bait-ul-Mal and Joint Stock
Waqf, Bait-ul-Mal and joint-stock treatment are not exact copies of a modern corporation. But together they show that Islamic jurisprudence can recognize rights, ownership and obligations at an institutional level.
This makes juridical personality a concept that can be reasoned about within Shari‘ah rather than dismissed as completely alien.