Explanation of Article 551
The article addresses the ruling on speculation with the debt owed to the owner by the speculator, and the ruling on speculation with non-cash assets. The first paragraph clarified the permissibility of the capital of the speculation being the debt owed to the owner by the speculator; this debt is a financial right that can be subject to disposition without any issue, and delivery is deemed to occur in this case by the mere conclusion of the contract. Consequently, any growth in that money after the contract is to be shared between the contracting parties according to the agreement, and the paragraph did not address other scenarios, relying on general rules; thus, the capital of the speculation may be the money that belongs to the owner in the hands of the speculator by way of deposit, loan, or any other contract. The second paragraph explained the ruling if what the owner provided for speculation was non-cash assets such as real estate, goods, securities, or otherwise; the contract is valid, as it is not required in a speculation contract for the capital to be cash; however, the value of what was provided is considered the capital, provided that this value is determined at the time of the contract or can be determined according to valid bases agreed upon by the contracting parties for evaluation, and this is merely an application of general rules, as the subject of the contract must be determined or determinable.
Related To
Article 551
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A debt owed by a mudaraba agent to a capital owner may serve as a mudaraba capital.
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If the mudaraba capital provided by the capital owner is in a form other than cash, its value shall be assessed at the time of concluding the contract or in accordance with valid assessment criteria agreed upon by the contracting parties.