Mudaraba Account definition

Mudaraba Account means the Islamic Shariah compliant savings & term account(s) opened and maintained by the Customer with the Bank under which the monies placed by the Customer therein shall be invested by the Bank in Islamic Shariah Complaint Assets and which, where the context requires, includes the Mudaraba Term Account.
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Mudaraba Account means the ledger account maintained by the Rabb-al-Maal with the Mudarib to give effect to the terms of the Master Restricted Mudaraba Agreement and for the investment of the Mudaraba Capital into Mudaraba Assets from time to time;
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Mudaraba Account means the mudaraba account in the Customer’s name held with the Bank the details of which are set out in the Deposit Murabaha Application Form;
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Examples of Mudaraba Account in a sentence

  • A group of Clients having same maturity classification for their Mudaraba Account for a given currency would form a particular Category (the "Category").

  • The Client may, at any time in accordance with these Terms and Conditions, place funds (the "Mudaraba Funds") to the credit of a Islamic Shariah compliant savings & term Account(s) opened and maintained by the Client with the Bank (the "Mudaraba Account"), which shall be managed and invested on a profit sharing basis by the Bank in Islamic Shariah compliant assets.

  • The Customer is aware that all deposits in the Mudaraba Account (including the original Mudaraba Funds) are exposed to potential losses arising out of a loss incurred in respect of Mudaraba Assets and that such losses may even affect the principal amount of the funds deposited by the Customers in the Mudaraba Account.

  • The participation of amounts in the Mudaraba Accounts in the profit shall start from the Business Day in which the funds are deposited in the Mudaraba Account, unless indicated otherwise in these Terms and Conditions.

  • A group of Customers having same maturity classification for their Mudaraba Account for a given currency would form a particular Category (the "Category").

  • The remaining Mudaraba Profit, after deduction of the Manager’s Profit Share (the “Profit Amount”) shall be allocated amongst the Customers at the end of each Profit Allocation Period by reference to the weightages (the “Profit Weightages”) determined by the Bank in respect of each Category at the commencement of each Profit Allocation Period and the average balance maintained by the Customer in its Mudaraba Account during the Profit Allocation Period calculated on a daily product basis.

  • The remaining Mudaraba Profit, after deduction of the Manager's Profit Share (the "Profit Amount"), shall be allocated amongst the Clients at the end of each Profit Allocation Period by reference to the weightages (the "Profit Weightages") determined by the Bank in respect of each Category at the commencement of each Profit Allocation Period and the average balance maintained by the Client in its Mudaraba Account during the Profit Allocation Period calculated on a daily product basis.

  • The profit payable on any Mudaraba Account will be subject to all applicable laws and regulations and must not conflict with the rules and principles of Sharia.

  • The profit payable on any Mudaraba Account will be subject to all applicable laws and regulations and must not conflict with the rules and principles of Xxxxx’a.

  • The Customer is aware that all deposits in the Mudaraba Account (including the original Mudaraba Funds) are exposed to potential losses arising out of a loss incurred in respect of Mudaraba Assets and that such losses may even a"ect the principal amount of the funds deposited by the Customers in the Mudaraba Account.

Related to Mudaraba Account

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Master Account or “Judicial Council’s Master Account” shall mean the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Separate Accounts means the accounts which are to be prepared for each

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Collection Accounts As defined in Section 3.10(a).

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.

  • Holding Account means an account:

  • Investment Account As defined in Section 3.12(a).

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.