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Q: Suppose a customer visits an Islamic Bank for opening investment account. This investment account is opened through Mudharabah contract. Required: Identify the nature (type)
Q: Suppose a customer visits an Islamic Bank for opening investment account. This investment account is opened through Mudharabah contract.
Required:
- Identify the nature (type) of contract.
- What are the roles (names) of Islamic Bank and customer in this contract?
- If the Islamic Bank decides that the customer (depositor) will be compensated with a 10% rate of return at the end of each month for the first year and then according to the KIBOR rate. Is this return allowed in Islamic Law?
- What are Islamic principles (Shariah rulings) regarding the profit and loss distribution in a Mudharabah contract?
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Financial Management Principles And Applications
Authors: Sheridan Titman
9th Edition
0655705457, 9780655705451
