Modern corporate limited liability is not discussed in classical fiqh in the exact form used today. Its evaluation therefore has to be built from broader Qur'anic, Prophetic and juristic principles and from comparable legal precedents.
This is an area of ijtihad: qualified scholars analyze a new structure by comparing it with established principles rather than expecting an identical classical contract.
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Limited Liability: The Modern Concept and the Shari‘ah Question
Modern corporate limited liability is not discussed in classical fiqh in the exact form used today. Its evaluation therefore has to be built from broader Qur'anic, Prophetic and juristic principles and from comparable legal precedents.
This is an area of ijtihad: qualified scholars analyze a new structure by comparing it with established principles rather than expecting an identical classical contract.