Emirates Takaful operator offers one-year motor takaful to all the participants and manages Motor Takaful Fund (MTF) on Mudarabah basis of Islamic contract. Suppose that the agreed Monthly Contribution/Donations by each member in MTF is 215 AED, where all contributions go to Participants Investment Fund (PIF). The accumulated funds in PIF are invested every month under the supervision of both the operator and Shariah Advisory Board. Suppose that there are 1,038 participants in the MTF and all started their contributions at the same time with the same terms of the contract. Once entered into the contract, a participant cannot terminate the contract for six months, else he will lose all his contributions to PIF. Suppose that profit share of the operator is 57%, exclusive of all the management and operational expenses. Further suppose that there is 8% average return on the accumulated funds in PIF at the end of the year, where the contributions in the PIF are fully invested and the surplus will be distributed at the end of the year. In addition, the Takaful contract is renewed every year.

What will be profit share of the operator at the end of the year?

10 QUESTION 16 Emre Tha per on one year markatul to all the participants and manager Motor Takaful Fuad (MTP) Madhes of them were embly Cebut by each other in MTV is 215 AD, where all contribution to Participar Investment Fund (PIP. The med hunden we were the rupervis af both the persor and Suriah Advisory Board Suppose that there we 1. participate in the MTV and all wanted their contribuciones de mete with the warm of the Over the contract, prepant cannot terminate the contract for six month, he will lose all his contribution to PDF. Support the preshare of the uport me of all the management and operational expenses. Further suppose that there is average return on the counted funds in PIP the end of the yew where the con are fully ested and the uplus will be distributed at the end of the year. In addition, the Tail contract is renewed every you What will be profit share of the operator at the end of the year QUESTION 16 How did you compute the answer in the previous question? TTTT Paragraph : Arial 3 (12pt) KDOO T T. ...T... -- TK