Mudaraba Pool definition

Mudaraba Pool means a pool of funds comprising the total deposits in all Mudaraba Accounts obtained on an Unrestricted Mudaraba basis for the purposes of carrying out investment and business activities and in which the Bank may commingle its shareholders’ equity or any portion thereof or any other funds invested on its shareholders’ behalf.
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Mudaraba Pool means the joint investment pool comprising of deposits received from Customers and funds from the Bank’s equity. The Mudaraba Pool shall be managed and invested by the Bank in Mudaraba Assets on an unrestricted (or restricted if applicable) basis in accordance with the principles of Shari’ah; “Password” means the secret word or phrase used in combination with the Username which enables you to access GABNet and which is known only to you;
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Mudaraba Pool means a pool of funds comprising the total deposits in all Mudaraba Accounts obtained on an Unrestricted Mudaraba basis for the purposes of carrying out investment and business activities and in which the Bank may commingle its shareholders’ equity or any portion thereof or any other funds invested on its shareholders’ behalf. “Non-Financial Transaction” means all Transactions relating to the Customer’s Account with the Bank, which do not create any financial impact on the Customer’s Account, such as Account enquiry, initiation of requests for statement download and similar transactions. “Personal Account Application” means an application filled out and signed by the Customer in relation to the opening of an Account. “Personal Information” means any information about the Customer provided by the Customer or any Authorized User and obtained by the Bank.
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Examples of Mudaraba Pool in a sentence

  • The participation of the invested amounts in the Mudaraba Pool shall start on the Business Day in which the funds are deposited.

  • The Bank shall be granted the express entitlement to co-mingle its own assets in the General Mudaraba Pool assets and, as a result, it may not be possible to identify the Mudaraba Assets separately from the assets of the Bank.

  • Under the terms of the Mudaraba Agreement, the Mudareb shall be expressly entitled to co-mingle the Mudaraba Assets with any of the other assets of the General Mudaraba Pool from time to time.

  • The Mudareb will invest the Mudaraba Capital in its general business activities carried out through the General Mudaraba Pool and following investment of the Mudaraba Capital in the General Mudaraba Pool, the Mudaraba Capital shall constitute pro rata undivided assets in the General Mudaraba Pool (the "Mudaraba Assets") in accordance with the Mudaraba Agreement, which shall include an investment plan prepared by the Mudareb and shall constitute a mudaraba (the "Mudaraba").

  • The Mudareb will invest the Mudaraba Capital on an unrestricted co-mingling basis in its general business activities carried out through the General Mudaraba Pool and following investment of the Mudaraba Capital in the General Mudaraba Pool, it shall constitute pro rata undivided assets in the General Mudaraba Pool (the Mudaraba Assets), in accordance with the Mudaraba Agreement, which shall include an investment plan prepared by the Mudareb and shall constitute a mudaraba (the Mudaraba).

  • The net profit from the Common Mudaraba Pool shall be distributed amongst the Ajman Bank and the Account Holders on the basis of the integrated weightage points which represent the aggregate of the points allocated to each deposit.

  • Under the terms of the Mudaraba Agreement, the Mudareb shall be expressly entitled to co-mingle its assets with the General Mudaraba Pool assets.

  • The net profit on the Common Mudaraba Pool shall be distributed amongst the Ajman Bank (Mudarib) and Account Holders on the basis of the integrated weightage points which represent the aggregate of points allocated to each deposit takinginto consideration its tenor, amount of the deposit and profit payment frequency.

  • The objective of the Mudaraba is to invest the Mudaraba Capital on an unrestricted co- mingling basis by the Mudareb in the Business Portfolio carried out through the General Mudaraba Pool and to earn profit thereon in accordance with the Investment Plan.

  • The net profit from the Common Mudaraba Pool shall be distributed amongst the Ajman Bank (Mudarib) and the Account Holders on the basis of the integrated weightage points which represent the aggregate of the points allocated to each deposit.