Unrestricted Mudaraba definition

Unrestricted Mudaraba refers to an investment contract, whereby the Customer (the Rab Al Mal) provides capital to the Bank (the Mudarib) for the purpose of investment, by the Bank through the Mudaraba Pool in any or all of the investment and business activities carried out by the Bank in its capacity as the Mudarib/fund manager of the Mudaraba Pool in order to share the generated profit on the basis of a pre-agreed ratio/percentage while the loss, if any, is solely borne by the Rab Al Mal (in this case the Customer) unless there is a wilful misconduct or gross negligence by the Mudarib.
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Unrestricted Mudaraba refers to an investment contract, whereby the Account Holder (the Rab ul Mal) provides capital to Ajman Bank (the Mudarib) for the purpose of investment, by Ajman Bank through the Common Mudaraba Pool in any or all of the investment and business activities carried out by Ajman Bank in its capacity as the Mudarib/fund manager of the Common Mudaraba Pool in order to share the generated profit on the basis of a pre-agreed ratio/percentage while the loss, if any, is 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.
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Unrestricted Mudaraba refers to an investment contract, whereby the customer
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Examples of Unrestricted Mudaraba in a sentence

  • Unrestricted Mudaraba contracts enable Islamic banks’ management to make discretionary investment decisions that best suits the financial goals of IAHs and the banks.

  • Unrestricted Mudaraba can be divided into three distinct types, two of which are discussed below, while a third type is discussed below under Shares.• Mudaraba not fixed deposits are accepted without time frame (not fixed), hence the investors are free to withdraw their money at any time.

  • Unrestricted Mudaraba funds are classified under Other deposits for both for both fixed term and non-fixed term arrangements.

  • Unrestricted Mudaraba is where the investor fully authorizes an IFI to invest the funds without restrictions as to where, how, and for what purpose the funds should be invested as long as it is deemed appropriate.

  • Unrestricted Mudaraba contracts enable Islamic banks’ management to make discretionary investment decisions in any type of business or project that best suits the financial goals of IAHs and the banks.

  • This type of Unrestricted Mudaraba has characteristics similar to those of debt securities and is classified as a Debt security unless it provides a claim on the residual value of the issuing entity, in which case it is classified as Equity.

  • Thereare two types of Mudaraba investment accounts according to the AAOIFI FAS No. 27 (Investment Accounts), namely Unrestricted Mudaraba and Restricted Mudaraba.

  • The investors are free to withdraw their money at any time, and hence this typeof Unrestricted Mudaraba is similar to those of savings deposits at conventional financial insti- tutions and is classified as Other deposits.• Mudaraba accepted for a fixed period that pro- vides opportunity for IFIs to invest in more profitable long-term projects.

  • For compiling monetary statistics, this type of Unrestricted Mudaraba is classified as Other deposits.

  • A separate disclosure (off balance sheet) in the form of Statement of Restricted Mudaraba is required to be kept by the IFIs. Similar to the case of deposits at conventional financial institu- tions, Unrestricted Mudaraba can be divided into the following types:• Mudaraba accepted without a time frame (not fixed).

Related to Unrestricted Mudaraba

  • Converted Unrestricted Subsidiary has the meaning specified in the definition of “Consolidated EBITDA.”

  • Unrestricted Subsidiary means any Subsidiary of the Company that is designated by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant to a Board Resolution, but only to the extent that such Subsidiary:

  • Unrestricted Person means (a) each Indemnitee, (b) each Partner, (c) each Person who is or was a member, partner, director, officer, employee or agent of any Group Member, a General Partner or any Departing General Partner or any Affiliate of any Group Member, a General Partner or any Departing General Partner and (d) any Person the General Partner designates as an “Unrestricted Person” for purposes of this Agreement.

  • Unrestricted area means an area to which access is neither limited nor controlled by the licensee or registrant. For purposes of these rules, “uncontrolled area” is an equivalent term.

  • Unrestricted Global Note means a permanent Global Note, substantially in the form of Exhibit A that bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf of and registered in the name of the Depositary, representing Notes that do not bear the Private Placement Legend.

  • Unrestricted Cash means cash or cash equivalents of the Borrower or any of its Subsidiaries that would not appear as “restricted” on a consolidated balance sheet of the Borrower or any of its Subsidiaries.

  • Unrestricted Subsidiaries means any Subsidiary of the Company that (a) shall have been designated as an “Unrestricted Subsidiary” in accordance with the provisions of Section 1.05 and (b) any Subsidiary of an Unrestricted Subsidiary; notwithstanding the foregoing, so long as a Subsidiary Borrower has Term Loans outstanding under this Agreement, such Subsidiary Borrower shall not be an Unrestricted Subsidiary.

  • Unrestricted Global Security means a Global Security that is not a Restricted Security.

  • Unrestricted Global Notes means Global Notes that are not required to bear, or are not subject to, the Restricted Notes Legend.

  • Unrestricted Cash Amount means, as to any Person on any date of determination, the amount of (a) unrestricted Cash and Cash Equivalents of such Person whether or not held in an account pledged to the Collateral Agent and (b) Cash and Cash Equivalents of such Person restricted in favor of the Facilities (which may also include Cash and Cash Equivalents securing other Indebtedness secured by a Lien on any Collateral along with the Facilities), in each case as determined in accordance with GAAP; it being understood and agreed that proceeds subject to Escrow shall be deemed to constitute “restricted cash” for purposes of the Unrestricted Cash Amount.

  • Unrestricted Notes means one or more Notes that do not and are not required to bear the Restricted Notes Legend including, without limitation, the Exchange Notes and any Notes registered under the Securities Act pursuant to and in accordance with the Registration Rights Agreement.

  • Unrestricted Securities means one or more Securities that do not and are not required to bear the Private Placement Legend in the form set forth in Exhibit A hereto, including, without limitation, the Exchange Securities and any Securities registered under the Securities Act pursuant to and in accordance with the Registration Rights Agreement.

  • Unrestricted Subsidiary Indebtedness of any Unrestricted Subsidiary means Indebtedness of such Unrestricted Subsidiary

  • Unrestricted Stock means an Award pursuant to Section 11 hereof.

  • Converted Restricted Subsidiary has the meaning specified in the definition of “Consolidated EBITDA.”

  • Unrestricted Cash and Cash Equivalents means, with respect to any Person, cash and Cash Equivalents of such Person that are free and clear of all Liens and not subject to any restrictions on the use thereof to pay Indebtedness and other obligations of such Person.

  • Unrestricted Margin Stock means any Margin Stock owned by the Borrower or any Subsidiary which is not Restricted Margin Stock.

  • Unrestricted Shares means a grant of Shares made on an unrestricted basis pursuant to Section 13 of the Plan.

  • Unrestricted means, when referring to cash or Cash Equivalents of the Borrower or any of its Subsidiaries, that such cash or Cash Equivalents are not Restricted.

  • Wholly Owned Restricted Subsidiary is any Wholly Owned Subsidiary that is a Restricted Subsidiary.

  • Unrestricted Definitive Note means one or more Definitive Notes that do not bear and are not required to bear the Private Placement Legend.

  • Unrestricted Definitive Notes means Definitive Notes that are not required to bear, or are not subject to, the Restricted Notes Legend.

  • Non-Restricted Subsidiary means any Subsidiary of the Company other than a Restricted Subsidiary.

  • Consolidated Restricted Subsidiaries means any Restricted Subsidiaries that are Consolidated Subsidiaries.

  • Unrestricted Definitive Security means Definitive Securities and any other Securities that are not required to bear, or are not subject to, the Restricted Securities Legend.

  • Domestic Restricted Subsidiary means a Restricted Subsidiary incorporated or otherwise organized or existing under the laws of the United States, any state thereof or any territory or possession of the United States.