By Mufti Muhammad Taqi Usmani Introduction The concept of ‘limited liability’ has now become an inseparable ingredient of the large scale enterprises of trade and industry throughout the modern world, including the Muslim countries. The present chapter aims to explain this concept and evaluate it from the Shari‘ah point of view in order to know whether or not this principle is acceptable in a pure Islamic economy. The limited liability’ in the modern economic and legal terminology is a condition under which a partner or a shareholder of a business secures himself from bearing a loss greater than the amount…