By right, the majority of Muslim scholars disallowed the practice of the two tier mudharabah (mudharib yudarib) without ‘the consent and approval’ by the investor in the first tier mudharabah. With reference to al-Sarakshi; “It is not permissible for the mudharib to enter the second tier mudharabah which results the second mudharib will share the profits whilst the the first rabbul mal has only consented to only share the profits with the first mudharib”.
However, in according to Hanfis the two tier mudharabah was valid with the condition the rabbul mal in the first tier mudharabah gave his consent for the mudharib to enter the second tier mudharabah. Modern Muslim scholars take this opinion with regards to this matter.
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