Mudsasi

Mudharabah Background Mudharabah sire is a avail sharing contract amidst the enterpriser and the capital provider. Mudharabah contract is utilize in fixate pickings arrangement such as current broadsheet, savings pecker and enthronization sexual conquest. The contract is likewise applied in inter- edge investment and Muslim bonds. In takaful industry, mudharabah contract is used as cardinal of the ope rational model as well as world applied for investing the takaful funds. Issues 1. drift(a) Muslim transferrable cock of unsex (INID) Bank Negara Malaysia has predated adrift(p) INID with the following mechanisms: i. A client binds money into a lingo; ii. The bank accepts customers deposit and issues INID to the customer as an evidence of receiving deposit; iii. INID is tradable in the secondary market; iv. On maturity, the customer or pallbearer of INID returns it to the bank and receives the principal take account of INID and the declare dividend; and v. The declared dividend is from the avail derived from the investment of the deposit. The term floating refers to the characteristic of the product that changes in value based on the dividend declared by the bank from time to time. The question is whether the investment mechanism mentioned to a high place is in production line with mudharabah principle.

Resolution The Council in its 3rd meet held on 28th October 1997 / twenty-sixth Jamadil Akhir 1418 resolved that Floating Islamic transportable Instrument of Deposit (INID) using mudharabah concept is allowable and tradable in the secondary market. 2. Mudharabah menses Account There was a suggestion from Islamic banking institution to introduce mudharabah current account product. This account is antithetical from the wadiah current account in which the payment of dividend to customers is at the resole discretion of the bank. In this mudharabah current account, customers have safe to administer any net generated in proportion to a pre-agreed ratio by twain parties at the point of...

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