Under an unrestricted Mudaraba contract: a. The investment account holder authorises the Islamic bank to invest their

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Under an unrestricted Mudaraba contract:

a. The investment account holder authorises the Islamic bank to invest their funds in a manner deemed appropriate by the Islamic bank.

b. Certain limitations are placed as to where, how, and for what purpose the funds should be invested.

c. The Islamic bank cannot commingle the investment account holders’ funds with its own funds.

d. All gains and losses are borne by the investment account holders.

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

ISBN: 9781032464022

1st Edition

Authors: Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik

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