Common use of Distribution of Profits Clause in Contracts

Distribution of Profits. 4.1 Savings Account’s profit will be credited to the Account Xxxxxx’s nominated account upon approval of the competent authorities. 4.2 The Account Holder acknowledges and represents that it is fully aware of the benefits and risks associated with, or involved in, the investment under the Savings Account and that Ajman Bank in its capacity as the Mudarib/fund manager of the Common Mudaraba Pool will share the generated profit on the basis of a pre-agreed ratio/percentage while the loss, if any, shall be solely borne by the Rab ul Mal (in this case the Account Holder) unless there is a willful misconduct or gross negligence by the Mudarib. 4.3 The Account Holder consents that Ajman Bank may, in order to maintain a certain level of return on investment for investment Account Holders, appropriate for the profit equalization reserve, after approval by Ajman Bank’s ISSC, an amount out of the Mudaraba income before allocating the Mudarib’s share. 4.4 The Account Holder also consents that Ajman Bank may, in order to cater against future actual losses for investment Account Holders, appropriate for the investment risk reserve, after approval by Ajman Bank’s ISCC, an amount out of the income of investment Account Holders after allocating the Mudarib’s share.

Distribution of Profits. 4.1 Savings Investment Deposit Account’s profit will be credited to the Account Xxxxxx’s nominated account upon approval of the competent authorities. 4.2 The Account Holder acknowledges and represents that it is fully aware of the benefits and risks associated with, or involved ininvolvedin, the investment under the Savings Investment Deposit Account and that Ajman Bank in its capacity as the Mudarib/fund manager of the Common Mudaraba Pool will share the generated profit on the basis of a pre-agreed ratio/percentage while the loss, if any, ,shall be solely borne by the Rab ul Mal (in this case the Account Holder) unless there is a willful misconduct or gross negligence by the Mudarib. 4.3 The Account Holder consents that Ajman Bank may, in order to maintain a certain level of return on investment for investment Account Holders, appropriate for the profit equalization reserve, after approval by Ajman Bank’s ISSC, an amount out of the Mudaraba income before allocating the Mudarib’s share. 4.4 The Account Holder also consents that Ajman Bank may, in order to cater against future actual losses for investment Account Holders, appropriate for the investment risk reserve, after approval by Ajman Bank’s ISCCInternal Sharia Supervision Committee, an amount out of the income of investment Account Holders after allocating the Mudarib’s share.

Distribution of Profits. 4.1 Savings Account’s profit will be credited to the Account Xxxxxx’s nominated account upon approval of the competent authorities. 4.2 The Account Holder acknowledges and represents that it is fully aware of the benefits and risks associated with, or involved in, the investment theinvestment under the Savings Account and that Ajman Bank in its capacity as the Mudarib/fund manager of the Common Mudaraba Pool will share the generated profit on the basis of a pre-pre- agreed ratio/percentage while the loss, if any, shall be solely borne by the Rab ul Mal (in this case the Account Holder) unless there is a willful misconduct or gross negligence by the Mudarib. 4.3 The Account Holder consents that Ajman Bank may, in order to maintain a certain level of return on investment for investment Account Holders, appropriate for the profit equalization reserve, after approval by Ajman Bank’s ISSC, an amount out of the Mudaraba income before allocating the Mudarib’s share. 4.4 . The Account Holder also consents that Ajman Bank may, in order to cater against future actual losses for investment Account Holders, appropriate for the investment risk reserve, after approval by Ajman Bank’s ISCC, an amount out of the income of investment Account Holders after allocating the Mudarib’s share. C INVESTMENT DEPOSIT ACCOUNT

Distribution of Profits. 4.1 Savings Investment Deposit Account’s profit will be credited to the Account Xxxxxx’s nominated account upon approval of the competent authorities. 4.2 The Account Holder acknowledges and represents that it is fully aware of the benefits and risks associated with, or involved in, the investment under the Savings Investment Deposit Account and that Ajman Bank in its capacity as the Mudarib/fund manager of the Common Mudaraba Pool will share the generated profit on the basis of a pre-agreed ratio/percentage while the loss, if any, shall be solely borne by the Rab ul Mal (in this case the Account Holder) unless there is a willful misconduct or gross negligence by the Mudarib. 4.3 The Account Holder consents that Ajman Bank may, in order to maintain a certain level of return on investment for investment Account Holders, appropriate for the profit equalization reserve, after approval by Ajman Bank’s ISSC, an amount out of the Mudaraba income before allocating the Mudarib’s share. 4.4 The Account Holder also consents that Ajman Bank may, in order to cater against future actual losses for investment Account Holders, appropriate for the investment risk reserve, after approval by Ajman Bank’s ISCCInternal Sharia Supervision Committee, an amount out of the income of investment Account Holders after allocating the Mudarib’s share.