The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia

In Malaysia, most of the businesses are micro, small and medium. According to the SME Annual Report 2010/2011, the latest statistics indicate that SMEs constitute 99.2% of the total business establishments and contribute about 32% of GDP and 59% of total employment. In carrying out the SMEs, the opt...

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Main Authors:	Abd Ghadas, Zuhairah Ariff, Engku Ali, Engku Rabiah Adawiah
Format:	Article
Language:	English
Published:	International Islamic University Malaysia 2011
Subjects:	HG Finance
Online Access:	http://irep.iium.edu.my/20447/ http://irep.iium.edu.my/20447/1/1-Development_of_partnership_based_structure_and_sharikah.pdf

id	iium-20447
recordtype	eprints
spelling	iium-204472013-06-28T03:07:06Z http://irep.iium.edu.my/20447/ The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah HG Finance In Malaysia, most of the businesses are micro, small and medium. According to the SME Annual Report 2010/2011, the latest statistics indicate that SMEs constitute 99.2% of the total business establishments and contribute about 32% of GDP and 59% of total employment. In carrying out the SMEs, the option of business vehicles which are available in Malaysia is only the conventional business structure, namely, sole proprietorships, partnerships and company. For the micro, small and medium businesses, the company structure is observed not to be appropriate due to its formal and highly regulated business structure. As such, most of the SMEs are carried out in the form of sole proprietorships and partnerships. This can be seen from the statistics published by Companies Commission of Malaysia which provides that there are 4,660,067 sole proprietorships and partnerships registered compared to only 970,396 of companies being registered. The tax scheme is also another discouraging factor which makes the partnership as a better option for SMEs. In certain sectors, particularly the professionals, for example, lawyers and accountants, the business can only be carried out in the form of sole proprietorships or partnerships. This article intends to highlight the development of partnership based structure in Malaysia and compare it with Islamic version of partnerships structure (Sharikah). International Islamic University Malaysia 2011-06 Article PeerReviewed application/pdf en http://irep.iium.edu.my/20447/1/1-Development_of_partnership_based_structure_and_sharikah.pdf Abd Ghadas, Zuhairah Ariff and Engku Ali, Engku Rabiah Adawiah (2011) The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia. Journal of Islam in Asia, Spcl (2). pp. 293-315. ISSN 1823-0970
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance
spellingShingle	HG Finance Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia
description	In Malaysia, most of the businesses are micro, small and medium. According to the SME Annual Report 2010/2011, the latest statistics indicate that SMEs constitute 99.2% of the total business establishments and contribute about 32% of GDP and 59% of total employment. In carrying out the SMEs, the option of business vehicles which are available in Malaysia is only the conventional business structure, namely, sole proprietorships, partnerships and company. For the micro, small and medium businesses, the company structure is observed not to be appropriate due to its formal and highly regulated business structure. As such, most of the SMEs are carried out in the form of sole proprietorships and partnerships. This can be seen from the statistics published by Companies Commission of Malaysia which provides that there are 4,660,067 sole proprietorships and partnerships registered compared to only 970,396 of companies being registered. The tax scheme is also another discouraging factor which makes the partnership as a better option for SMEs. In certain sectors, particularly the professionals, for example, lawyers and accountants, the business can only be carried out in the form of sole proprietorships or partnerships. This article intends to highlight the development of partnership based structure in Malaysia and compare it with Islamic version of partnerships structure (Sharikah).
format	Article
author	Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah
author_facet	Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah
author_sort	Abd Ghadas, Zuhairah Ariff
title	The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia
title_short	The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia
title_full	The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia
title_fullStr	The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia
title_full_unstemmed	The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia
title_sort	development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to malaysia
publisher	International Islamic University Malaysia
publishDate	2011
url	http://irep.iium.edu.my/20447/ http://irep.iium.edu.my/20447/1/1-Development_of_partnership_based_structure_and_sharikah.pdf
first_indexed	2023-09-18T20:30:44Z
last_indexed	2023-09-18T20:30:44Z
_version_	1777408717961035776

The development of partnership based structure in comparison to the concept of musharakah (sharikah) with special reference to Malaysia

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