THE CHARACTERISTICS AND TYPES OF SHAREHOLDING COMPANIES IN ISLAMIC SHARIA AND OMNIA LAW

The idea of establishing the company has been linked to human being since ancient time. It was based on the cooperation and participation of two people or more in order to achieve a project which has a commercial entity that participants share its success. They also share out the profits between them.Perhaps the motivation behind this cooperation is that there are many commercial projects which a person unable to achieve it individually because of many reasons, for example, insufficient material resources, lack of technical expertise or the lack of substantial mental ideas that necessary for the success of the project. Therefore, the importunity desire to cooperate with individuals between them by financial, expertise and working to achieve the objectives of those commercial projects. The aim is clear in reaching the supreme goal which has a valuable economic output. This goal is not limited to the level of the people involved in the success of the work, but at the level of growing up the national economy. In view of the continuous and clear development of the social and economic conditions, The large companies have appeared which have a huge amount of money, the material and human resources that contributed in pushing the advancement to develop. These companies have achieved huge scientific, economic projects. The shareholding companies are stand up on financial consideration, in other words, these companies do not give the partner importance so the company is not affected by belonging to or withdrawing from it. The shareholder’s responsibility is limited to performing the value of stocks that he subscribed to. The shareholder does not ask about the company’s debt except within the limits of what he has subscribed stocks. These companies have their own moral character and their independent financial resources. The shareholding companies consist of a large number of shareholders who may have a small share of stocks. Moreover, most of them are not experienced in the management and commerce or even in the company’s field and its systems. Therefore, their participation in the management of the company according to the general rules cannot be relied on in order to carry on its work if not possible