Mudaraba Account Functionality. a) Under a Mudaraba Account, the Customer being the owner of funds (“Rab-al-Mal”) authorises the Bank (being the “Mudarib”) to invest the Customer’s funds in the Mudaraba Account on an Unrestricted Mudaraba basis in accordance with the principles of Xxxxx’a in such manner.
Appears in 2 contracts
Samples: Banking Services Agreement, alizzislamic.com
Mudaraba Account Functionality. a) Under a Mudaraba Account, the Customer being the owner of funds (“Rab-al-Mal”) authorises authorizes the Bank (being the “Mudarib”) to invest the Customer’s funds in the Mudaraba Account on an Unrestricted Mudaraba basis in accordance with the principles of Xxxxx’a Sharia in such manner.
Appears in 2 contracts
Samples: rakbank.ae, rakbank.ae
