Mudaraba Pool definition

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 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 with the Depositors’ fund.
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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.
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Examples of Mudaraba Pool in a sentence

  • Zakat on the general provision or on other reserves, if any, is calculated and discharged from the share of profit of the respective parties participating in the Mudaraba Pool.

  • 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").

  • Move assets as the sun changes position to keep equipment in shadows.

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

  • 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.

  • Profit distribution between the unrestricted account holders (investment, saving and Wakala accounts) and the Shareholders, is according to the instructions of the Bank’s Internal Shari’a Supervision Committee.Net income realised from Mudaraba Pool, at the end of each quarter, represents the net profit available for distribution.

  • 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.

  • Net income realised from Mudaraba Pool, at the end of each quarter, represents the net profit available for distribution.


More Definitions of Mudaraba Pool

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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Related to Mudaraba Pool

  • Intercollegiate sport means a sport played at the collegiate level for which eligibility requirements for participation by a student athlete are established by a national association for the promotion or regulation of collegiate athletics.

  • Non-Administrator Ambulatory Surgical Facility means an Ambulatory Surgical Facility which does not meet the definition of an Administrator Ambulatory Surgical Facility.

  • Distribution center means a building or structure used primarily for the storage of goods which are intended for subsequent shipment to retail outlets. Distribution center does not mean a building or structure used primarily to store raw agricultural products, used primarily by a manufacturer to store goods to be used in the manufacturing process, used primarily for the storage of petroleum products, or used for the retail sale of goods.

  • Participating Home Infusion Therapy Provider means a Home Infusion Therapy Provider who has a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Non-Participating Home Infusion Therapy Provider means a Home Infusion Therapy Provider who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Cesspool means an unlined or partially lined underground pit or underground perforated receptacle into which raw household wastewater is discharged and from which the liquid seeps into the surrounding soil. Cesspool does not include a septic tank.