SHIRKAH
A shirkah is an Islamic finance term which characterizes the partnership between two or more entities. The involved parties put in and combine parts of their labor or capital with the intention of sharing profits and losses among each other. It is divided into two types. First is the shirkah-ul-milk. This is a joint ownership where capital comes from both parties. The second one is the shirkah-ul-’aqd. This is a joint ownership that involves a contract and is also a kind of joint commercial enterprise.
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