Common use of Distribution of Profits Clause in Contracts

Distribution of Profits. a) Profit for Mudaraba Accounts, once approved by the Xxxxx’a Board, will be credited to the Customer’s Account with the Bank nominated by the Customer and excluding the Islamic Term Investment Deposit Account. 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.

Distribution of Profits. a) Profit for Mudaraba Accounts, once approved by the Xxxxx’a Sharia Board, will be credited to the Customer’s Account with the Bank nominated by the Customer and excluding the Islamic Term Investment Deposit Account. 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’aSharia.