Wakalah. A Shariah-compliant agency agreement through which an agent is appointed by a principal to carry specific tasks with or without fees; Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah agreement with the Issuer in the Project via this Agreement, for the purpose of investing in the Project. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah are Shariah-compliant. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix. The Company charges service fees for facilitating the Musharakah agreement between the Investor and the Issuer, as described in Section 5 of the Appendix. The service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee. The Issuer promises to forego a portion of the Issuer’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if: The project makes a profit; and The Issuer is not deprived of all profits as a result of this arrangement. The Investor agrees to contribute to capital as described in Section 9 of the Appendix. In the case of loss, the Investor Group and the Issuer will bear loss proportionately to the capital contribution of each Party. Notwithstanding the above, the Issuer is liable for any loss attributed to negligence, misconduct or breach of contractual terms. The profit will be shared between the Investor Group and the Issuer based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.
Wakalah. The Bank will appoint you as a Bank's agent for the purpose of maintenance of the Vehicle during the Hire Term. iii. BAI': Literally means sale, where on expiry of the Hire Term/ early settlement/ prepayment, you will enter into a contract to purchase the Vehicle from the Bank at an agreed price. In this regard, you are deemed to have an option of purchasing the Vehicle if you have paid a deposit to the Bank. During the Hire Term, the ownership of the Vehicle belongs to the Bank. On completion of the entire rental payment, a Sales Contract will be executed to transfer the ownership of the Vehicle from the Bank to you.
3. What do I get from this product?
4. What are my obligations?
5. What other charges I have to pay? Note 1: The Bank will inform you in writing, of any changes in fees and charges that are applicable to the Facility, at least twenty-one (21) calendar days before the effective date of implementation of such change. Note 2: You are also responsible to pay all professional fees, taxes (including Service Tax (ST))/or any applicable taxes imposed from time to time), out-of-pocket expenses incurred and any other fees, expenses or recourse in respect of the Facility. Note 3: If you wish to get the Facility account statement, please email to xxxxxxxx.xxxxxxxxx@xxxxxxxx.xxx or register with RHB Now for e- statement and online payment. The first request is free of charge but any further requests will be charged according to item IX above.
6. What if I fail to fulfil my obligations?
(a) You are liable to pay the Bank compensation (Ta'widh) as follows:
i. If you fail to pay the payment due under the Facility from the date of first disbursement by the Bank until the date of maturity of the Facility, the applicable compensation (Ta'widh) rate is not more than one percent (1%) per annum: a. on the overdue amount in case of default of scheduled payments; or b. on the outstanding balance of the Facility in case of default causing the Facility to be terminated or brought to court for judgement before the expiry of the Facility.
ii. if you fail to pay any amount overdue and such failure continues beyond the Facility tenure or after judgement is obtained (whichever is earlier), at such rate per annum as determined by the Bank from time to time (before as well as after judgement), and the applicable compensation rate will not at any time exceed the prevailing Bank Negara Malaysia's (BNM) Islamic Interbank Money Market (IIMM) Rate on the total outstanding balance...
Wakalah. Saya dengan ini secara xxxxxx xxx muktamadnya melantik pihak Bank sebagai ejen saya untuk:
(i) Kontrak Jualan Murabahah: Untuk melengkapkan xxx melaksanakan Kontrak Jualan Murabahah untuk pembelian Komoditi oleh saya daripada Bank pada Harga Jualan Bank; xxx selepas penyempurnaan Kontrak Jualan Murabahah, untuk menguruskan Komoditi dengan xxxx xxxx berikut:
(a) disimpan di dalam gudang xxx xxxx akan menanggung kesemua xxx xxx perbelanjaannya xxx xxxx memberi kuasa kepada Bank untuk menolak kesemua xxxxx xxxx perlu dibayar daripada akaun saya.
(b) untuk dihantar ke xxx xxxx akan menanggung kesemua xxx xxx perbelanjaannya xxx xxxx memberi kuasa kepada Bank untuk menolak kesemua xxxxx xxxx perlu dibayar daripada akaun saya.
(c) untuk dijual kepada pembeli pihak ketiga pada harga yang sekurang-kurangnya bersamaan dengan harga kos Komoditi secara xxxxx xxx tukaran serta-xxxxx. *Tandakan ( ✓) di mana berkenaan. Xxxx pilih (c) jika anda/Pelanggan berhasrat untuk memperoleh hasil daripada Kemudahan.
(ii) Agensi Jualan: Selepas Kontrak Jualan Murabahah disempurnakan xxx jika saya memilih agar Komoditi dijual kepada pembeli pihak ketiga (“Pembeli Komoditi”), Bank boleh menjual Komoditi tersebut kepada Pembeli Komoditipada harga yang bersamaan dengan Amaun Kemudahan xxx menyerahkan atau menyebabkan diserahkan Komoditi itu kepada Pembeli Komoditi, serta untuk mengutip hasil daripada jualan tersebut lantasmembayar hasil tersebut kepada saya melalui satu akaun yang ditentukan bagi tujuan Kemudahan ini, atau kepada pihak ketiga bagi pihak saya menurut terma-terma Perjanjian Am xxx Kemudahan ini.
Wakalah. 2.1.1 You agreed to appoint and authorise Us to manage this takaful plan and invest the Tabarru` Fund. We are authorised to implement the takaful business in accordance with Shariah principles, legal and regulatory requirements as well as the terms stated herein.
2.1.2 In return for the tasks to be carried out and based on Wakalah bi al-ujrah principles, You agreed to pay the Wakalah Charges to Us as specified under Schedule 2 and Certificate Provisions Clause 6.1 herein. In addition to the Wakalah Charges, We are also entitled to performance fee on the distributable Surplus as stated under Certificate Provisions Clause 3.1.1
Wakalah. The participant hereby appoints the Company as Xxxxxx (agent) to administer, manager, invest and distribute the Takaful Fund/ Participant’s Risk Fund to other Participants in times of misfortune subject always to the terms and conditions stated in the Takaful Certificate and Schedule. To this end, the Participant agrees to give 35% of the takaful contribution to the Company as Wakalah Fee for the aforementioned services. The Participant hereby also agrees to give a fee form the surplus of the Takaful Fund (if any) to the Company at a percentage as approved by the Shariah Advisory Body of the Company.
Wakalah. Wakalah secara bahasa berasal dari kata wazan wakala – yakilu – waklan yang berarti menyerahkan atau mewakilkan urusan, sedangkan secara istilah wakalah adalah pekerjaan yang diwakilkan, Al- wakalah juga berarti penyerahan (al – Tafwidh) xxx pemeliharaan (al- Hifdh) suatu barang kepada orang yang dipercaya untuk diserahkan kepada pihak yang telah ditentukan. Menurut Xxxxxxx ( dalam skripsi milik Satriana, 2020) wakalah dalam arti harfiah adalah menjaga, menahan, atau penerapan keahlian atau perbaikan atas nama orang lain, menunjuk seseorang untuk mengambil alih atas suatu hal juga untuk mendelegasikan tugas apapun ke orang lain. Murabahah bil wakalah adalah jual beli dengan sistem perwakilan (wakalah). Dimana jual beli dengan sistem ini pihak lembaga keuangan mewakilkan pembeliannnya kepada nasabah, dengan demikian akad pertama adalah akad wakalah setelah akad wakalah berakhir yang ditandai dengan penyerahan barang dari nasabah ke lembaga keuangan syariah kemudian pihak lembaga memberikan akad murabahah (Permana, 2017). Akad murabahah bil wakalah juga merupakan akad jual beli dimana lembaga keuangan syariah mewakilkan pembelian produk kepada nasabah kemudian setelah produk tesrsebut di dapatkan oleh nasabah kemudian nasabah memberikannya kepada pihak lembaga keuangan syariah. Setelah barang tersebut di miliki pihak lembaga xxx harga dari barang tersebut jelas maka pihak lembaga menentukan margin yang didapatkan serta jangka waktu pengembalian yang akan disepakti oleh pihak lembaga keuangan syariah xxx nasabah (Nurhikma, 2019). Bentuk akad ini dilarang dalam syariah. Contohnya menggabungkan akad jual beli xxx pinjaman ( bai wal salaf) . Contoh lain, mengabungkan qardh wal ijarah dalam satu akad. kedua contoh tersebut dilarang xxxx xxxx (dalil) syariah, qardh dengan janji hadiah (hibah), akad salaf dengan jual beli (Xxxxxxxx 2016).
Wakalah. You appoint Us as Xxxxxx (agent) to administer, manage, invest and distribute the General Takaful Fund to other Participants in times of misfortune, subject always to the terms and conditions stated in this Contract and the Personal Certificate. To this end, You agree to give 24% of the Contribution to Us as a Wakalah Fee for the aforementioned services. You hereby also agree to give a fee from the surplus of the Takaful fund (if any) to Us as performance fee for continuously ensuring the Takaful fund are managed in a responsible and sustainable manner at a percentage as approved by Our Shariah Advisory Body which does not exceed the percentage of distributable surplus to all the participants.
