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Among the following which one is not a condition of plain Mudaraba All answers are correct Bank can pool the funds of several depositors and
Among the following which one is not a condition of plain Mudaraba
- All answers are correct
- Bank can pool the funds of several depositors and give it to one entrepreneur In case of loss, depositors will not lose an amount exceeding 10% of their investment
- Similarly, banks can aggregate the profit from different investments, after deducting costs and share with depositors on an agreed ratio.
- Bank will not interfere in the management of businesses they invest in but may have conditions that ensures the efficient use of the funds
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