Jurisprudential Method of Capital Raising and Management in Economic Affairs (A Substitute for Joint Stock Companies)

The conventional and comprehensive method for capital-raising to conduct economic activities in the contemporary world is Joint Stock Companies. This type of companies is marred from the viewpoint of jurisprudence and has problems from legal and economic viewpoint as well. These problems have been covered in this article and in order to provide a correct shari answer to the need to capital-raising and its management, different types of companies in jurisprudence have been studied. Then a company has been selected which is mentioned in fiqh and meets the above mentioned demand. A management mechanism has been devised for this type of company as well. Finally, the article explains the advantages of this type of company over Joint Stock Companies in addition to its legitimacy from jurisprudential point of view.