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9.0 Mudharabah Financing Bank Setia approved a RM 1 million Mudharabah Financing facility to ABC Securities Sdn. Bhd with 100%.capital provided by the bank. The
9.0 Mudharabah Financing Bank Setia approved a RM 1 million Mudharabah Financing facility to ABC Securities Sdn. Bhd with 100%.capital provided by the bank. The purpose of facility is to finance working capital for trading in approved quoted shares which are Shariah compliant. The profit sharing is predetermined at the outset and based on the value of actual transactions Completed daily agreed at 85% (Customer) 15% (Bank) Transaction date; 16.12.2004 Stock Trans iction Cost/Unit (RM) Units/ Purchased (RM) Total Cost '000 Sale! Units Unit Sold 000 Total Sale(RM) Commi ssion Earned (1%) 2 TNB 20 MAXIS 26 BIMB 7 1,000 1,000 1,000 20,000 26,000 7,000 53,000 22 28 7. 1,000 1,000 Based on the above information, compute the commission to be shared between the Bank and ABC Securities
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