Question
Imagine a 5 years Musharakah contract between Global Market Fund (GMF) and Global Investment Company (GIC) to buy a food processing factory, where GMF contributes
Imagine a 5 years Musharakah contract between Global Market Fund (GMF) and Global Investment Company (GIC) to buy a food processing factory, where GMF contributes 70% and GIC contributes 30% of the underlying assets. As per the terms of the contract GIC will work as Mudarab and is obliged to arrange a takaful for loss from perished food resulting from electric equipment failure. Suppose that loss occurred due to transporting food from factory to the customer. In such a situation following is the truest option
| 1. | Loss will be borne by GIC
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| 2. | Loss will be borne by GIC and GMF | |
| 3. | Loss will be borne by GIC and GMF in the ratio (GIC:30%, GMF:70%)
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| 4. | Both 2 & 3 |
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Research Methods For Accounting And Finance Global Management Series
Authors: Audrey Paterson, Kevin D. Ogorman, David Leung, Robert Macintosh, William Jackson
1st Edition
1910158895, 978-1910158890
