PARTNERSHIP AND PROFIT-SHARING IN ISLAMIC LAW derives from juristic sources of the four principal schools of Islamic Law, the principles which are to govern participatory finance and joint ventures. These principles provide the legal foundations on which banking and financial intermediation can be reorganized in a modern Islamic economy. The rights and duties of a financial intermediary, the application of mudarabah to industrial enterprise and the feasibility of time-bound mudarabah contracts are some of the issues relevant to contemporary practice of Islamic banking and finance dealt with in the light of fiqh