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QUESTION 7 Suppose you signed a one-year Mudaraba Takaful contract with Forsan operator, who manages Mudaraba Takaful Fund (MTF) on mudarabah basis of Islamic contract.
QUESTION 7 Suppose you signed a one-year Mudaraba Takaful contract with Forsan operator, who manages Mudaraba Takaful Fund (MTF) on mudarabah basis of Islamic contract. The agreed yearly Contribution by each member in Mudaraba Takaful fund with Forsan operatoris 1.513 AED. Out of 1.513 AED, 44% goes to the Participants investment fund PF) while rest of the contribution go to Participants Risk fund (PAP). Suppose that there are 276 participants in the Mudaraba Takaful Fund and all started their contributions at the sane time with the same terms of the contract. Suppose that profit share of Forsan operatoris 41%. Further, suppose that there is 1% average return on the funds invested in PF at the end of the year, and the surplus will be distributed at the end of the year. In addition, the Mudaraba Takatul contract is renewed every year. If you haven't made any claims during the year, how much total surplus should you receive at the end of the year. Note: Po write your final answer profit share amount) in the box below. Please write your detailed calculation eps for calculations in the space provided in the next question QUESTION 7 Suppose you signed a one-year Mudaraba Takaful contract with Forsan operator, who manages Mudaraba Takaful Fund (MTF) on mudarabah basis of Islamic contract. The agreed yearly Contribution by each member in Mudaraba Takaful fund with Forsan operatoris 1.513 AED. Out of 1.513 AED, 44% goes to the Participants investment fund PF) while rest of the contribution go to Participants Risk fund (PAP). Suppose that there are 276 participants in the Mudaraba Takaful Fund and all started their contributions at the sane time with the same terms of the contract. Suppose that profit share of Forsan operatoris 41%. Further, suppose that there is 1% average return on the funds invested in PF at the end of the year, and the surplus will be distributed at the end of the year. In addition, the Mudaraba Takatul contract is renewed every year. If you haven't made any claims during the year, how much total surplus should you receive at the end of the year. Note: Po write your final answer profit share amount) in the box below. Please write your detailed calculation eps for calculations in the space provided in the next
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