Makhārij: Linguistically, makhārij is the plural of the noun makhraj, which means “exit”. Based on the authors’ limited research in the classical books of fiqh and uṣūl al-fiqh, scholars have not provided a specific definition of the term makhārij. The Hānafī imām Muḥammad al-Shaybānī is among the earliest scholars to have used this term in his essay al-Makhārij fī al-Ḥiyal; however, he did not define the term. The word makhārij was not used by al-Shaybānī in his other writings; rather, he used “ḥiyal”. According to al-Mawsūʿah al-Fiqhiyyah (1404-1427 H.: 36/240), jurists use makhārij specifically for permissible ḥiyal. This is supported by a statement by al-Sarakhsī (2000: 30/371) that the majority of scholars consider the use of ḥiyal in the form of makhārij to be permissible. For further details see: ISRA Research Paper; The Parameters of Hiyal in Islamic Finance

What Parameters for the Financial Independence of Subsidiary Companies Affect the Legality of Transactions with Them?

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