Ma`rifat Eqtesadi

Revenue sharing contracts such as (RBF) and (ISA) have gained a significant position today as a new financing solution, especially in areas such as startups and higher education. In the RBF model, the investor receives a percentage of the gross income of the investee up to a certain limit. In the ISA model, the person undertakes to repay a portion of his income to the financing company over a certain period. Despite features such as flexibility in payment and reducing the need for collateral, these contracts face challenges from a jurisprudential perspective. A descriptive-analytical study of this issue shows that if these contracts are considered as loans, any receipt of an amount exceeding the principal amount will be usurious in nature. On the other hand, if these models are defined as partnerships, principles such as profit sharing after deducting expenses must be observed; while in the RBF and ISA structures, profit is divided based on gross income, which is not consistent with the partnership rules. Although solutions have been proposed to adapt these contracts to Sharia standards, these approaches also face challenges due to jurisprudential considerations and customary requirements of the contracts.