Damar saka hannun jari, tara aikin ma'aikata da ƙwarewa, da kafa kamfanoni cikin tsari mai inganci, muhimmin abu ne ga kowace al'umma. Yayin da al'ummomin yammacin duniya suka taru a kewayen kamfanin hannun jari na haɗin gwiwa wanda ake cinikinsa cikin 'yanci a kasuwannin hannun jari, Musulunci ya tsara ƙa'idoji na musamman game da kafawa da aikin kamfanoni, waɗanda ke da wasu bambance-bambance masu tsanani.

The opportunity to invest wealth, aggregate labour and expertise, and form companies in an efficient manner is fundamental to any society. While western societies have congregated around the joint stock company which is freely traded on stock markets, Islam has set out specific rules for the formation and function of companies which have some distinct differences.

Musulunci yana ɗaukar kafa kamfani a matsayin wata takamaiman yarjejeniya da ke buƙatar bayarwa da karɓa daga dukkan masu hannu a cikinsa, ma'ana dole ne a sami yarjejeniya tsakanin abokan hulɗa kafin shigar sabbin mahalarta. Har ila yau, abin da yarjejeniyar ta ginu a kai shi ne ra'ayin cewa ƙungiyar kamfani tana da takamaiman jari da kuma wani ɓangare na jiki, yayin da kamfanin hannun jari na yau da kullum kamfani ne na jari kawai (har ma da Daraktoci ma ma'aikata ne). Kasancewar wani ɓangaren "jiki" ga kamfani sharadi ne wajibi, domin yana tabbatar da cikakkiyar ɗaukar alhaki da lissafi ga ayyukan kamfanin. Wannan, tare da haramta "iyakantaccen alhaki", yana nufin cewa ɓoyewar da mutane da yawa ke ɓuya a bayanta a cikin Kamfanin Iyakantaccen Hannun Jari na Jama'a (PLC) ko Société Anonyme (SA) a Faransa, ana guje mata. Rashin wata ƙungiya mai lissafi tare da iyakantaccen alhaki ya haifar da mummunan sakamako a cikin rikicin da ake fama da shi a yanzu. 26.

Islam treats the formation of the company as a specific transaction requiring an offer and acceptance by all participants meaning that there must be agreement between partners for new participants. Fundamental to the transaction is also the notion that the corporate entity has a specific capital and body element, whereas the standard joint stock company is a company of capital only (even the Directors are employees). A “body” element to the company is an absolute requirement as it establishes complete accountability and responsibility for the actions of the company. This coupled with prohibition of “limited liability” means that the anonymity behind which many hide in the standard PLC (Public Limited Company) or SA (Société Anonyme in France) is avoided. This lack of an accountable body with limited liability has had disastrous consequences in the current crisis. 26.

Lokacin da babban jami'in zartarwa na bankin zuba jari da ya fadi, Lehman Brothers, Richard Fuld, wanda aka wulakanta, ya bada shaida a gaban Majalisa a ranar 6 ga Oktoba, 2008, ya kare albashinsa na dala miliyan 484 yana sane cewa yana barin rushewar da shi da abokan aikinsa suka kula da ita a bankin. Ba tare da wani nauyi na kansa ba saboda karin yawan kadarorin takardun ma'auni na 20 ko 30 sau, caca mai matukar hadari da suke yi, ko dubban kwangilolin derivative da ke ci gaba da kasancewa, Fuld ya iya kawar da mafi yawan tambayoyi cikin farin ciki. A cikin shaidarsa ya ce ya dauki "cikakken alhakin" fatarar Lehman Brothers kuma ya "ji zafi" game da hakan. Duk da haka, ko da kwanaki kafin bankin ya rushe (bai samu tallafin Baitul Malin Amurka ba), shugabannin zartarwa nasa sun amince da "kudade na musamman" har dala miliyan 20 ga manyan jami'an da ke barin aiki.

When the disgraced Chief Executive officer of the failed investment Bank Lehman Brothers, Richard Fuld, gave testimony to Congress on October 6th, 2008 he defended his $484 million in salary fully aware that he was walking away from the disaster he and his colleagues oversaw at the bank. Without any personal liability for the 20 or 30 times leveraging of their balance sheet assets, the enormously risky bets they were taking nor the hundreds of thousands of derivative contracts which remain outstanding, Fuld could happily brush aside most questions. In his testimony he said he took “full responsibility” for the bankruptcy of Lehman Brothers and “felt horrible” about it. Yet, even days before the bank collapsed (failed to gain a Treasury bailout) their executives were endorsing $20 million in ‘special payments’ for departing senior executives27.

Muhawara game da matakan kyautar gudanarwa a wannan rikicin da kuma ko ya kamata a rage su, ta yi watsi da mafi muhimmin al'amari. Idan babu ko kaɗan na lissafin kuɗi da na doka ga ayyukan banki, to za a iya tsammanin irin wuce gona da iri da ya zama ruwan dare. Dokar kamfanoni ta Musulunci tana tabbatar da cewa masu mallakar kamfani ba su da kariya a bayan iyakantaccen nauyi; suna da cikakken alhakin aiwatar da kwangilolinsu da duk wani tasirin kuɗi na duk ma'amalolin da suka shiga. Haka kuma, dokoki masu amsa kira kamar dokar Sarbanes Oxley da aka kafa a Amurka sakamakon rikicin Enron da WorldCom, inda manyan jami'ai suka kasance suna "dafa littattafai", ba su yi wani tasiri ba a wannan rikicin, saboda sun kasa magance babban abin da ya shafi alhakin ma'amalolin bankuna/cibiyoyi. A Musulunci, masu mallakar kamfani ko abokan haɗin gwiwa suna ci gaba da zama masu alhakin asara ko bayan kamfanin ya fadi. Wannan batun na gaskiyar lissafin ayyuka, maimakon yiwuwar rage kyautuka, shi ne ke ba da natsuwa ga hanyoyin cinikin jami'an kamfanoni.

The debate over levels of executive bonuses in this crisis and whether they should be curtailed neglects the most important fact. When there is little or no actual monetary and legal accountability for the actions of a bank then we can expect the type of excesses that have become common. Islamic corporate law ensures that the owners of the company are not shielded behind limited liability, they are fully accountable for the performance of their contracts and any monetary impact for all the transactions they enter into. Furthermore reactive legislation such as the Sarbannes Oxley laws introduced in the US in response to the Enron and Worldcom debacles where senior executives were effectively “cooking the books” has had virtually no effect in this crisis because it failed to address the key element of liability for the transactions of the banks/institutions. In Islam the owners/partners of any company remain liable for losses even after a company has failed. This issue of real accountability for actions, rather than potential curtailment of bonuses provides a level of sobriety to the trading practices of company executives.

Yana da muhimmanci a jaddada cewa, sai dai wasu 'yan keɓancewa, aron kuɗi mai tsanani (lamuni), cinikin caca na kayan da aka samo daga wasu (derivative bets), da jerin ma'amaloli masu haɗari duk halal ne bisa ƙa'idodin dokokin kamfanoni marasa tsauri da ke tafiyar da kasuwanci a Yammaci. Don haka ba abin mamaki ba ne cewa shugabannin kamfanoni sun yi amfani da irin wannan yanayin ciniki mara tsauri wajen samun manyan albashi da alawus-alawus ga kansu, ba tare da damuwa sosai game da haɗarin da ke tattare da hakan ba.

It must also be stressed that, with a few exceptions, the aggressive leveraging (borrowings), derivative bets, and array of risky transactions were all fully legal under the lax corporate laws governing business in the West. It is thus little wonder that executives have taken advantage of such a lax trading environment to drive massive compensation packets for themselves, with little concern for the risks involved.