Wakala Fee definition

Wakala Fee means a fee to be paid by Muwakkil to Wakil for service rendered hereunder, as agreed between the parties on a case by case basis.
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Wakala Fee means a fee to be paid by Muwakkil to Wakil for the services rendered hereunder, as set out in Schedule 1 hereof.
Sample 1Sample 2Sample 3
Wakala Fee means a fee to be paid by Muwakkil to Wakil for service rendered hereunder, as agreed
Sample 1

Examples of Wakala Fee in a sentence

  • This account is credited by the contributions paid by the Policyholders and returns of their investments and debited by claims, reinsurance Contributions, the necessary provisions and reserves and the Wakala Fee.

  • Therefore, in case of comingling of Wakala investment funds with the Mudaraba pool, the investment agent will only charge Wakala Fee and will not share profits from the Mudaraba investment pool in the capacity of Mudarib.Under FAS 30, ECL is allocated to the assets invested using funds from unrestricted investment accounts.

  • Company/Takaful Company: means that manages Takaful operations as an Agent (Wakeel) for the Participants in consideration of cash Agency (Wakala) Fee and invests the Contributions as a Working Partner (Mudareb) in consideration of the pre-agreed share in the actual investment profits.

  • The Performance fee shall be taken by the Wakeel solely in circumstances where the Actual Wakala Profit is in excess of the Anticipated Investment Return plus the Wakala Fee.

  • Agency (Wakala) Fee: means the Agency (Wakala) Fee deducted by the Company from the Contributions, asdefined in the Schedule and is subject to change by the Company at the commencement of each new fiscal year, as will be published in the Company’s branches.

  • Dividend income is recognized when right to receive such dividend is established.Takaful operator fee (Wakala Fee) is recognized once the contribution is recognized in the books.

  • Wakala Fee is taken 23% of Contribution earned from all business categories.

  • The Wakala Fee percentage and the Mudaraba Percentage due to the Company is determined in advance and is set out in the Policy Schedule hereto.

  • This account is credited by the Contributions paid by the Policyholders and returns of their investments and debited by claims, reinsurance Contributions, the necessary provisions and reserves and the Wakala Fee.

  • The regulation which has been made by IA regulators is in contradiction with Sharia standards.As discussed above, the acquisition cost which must be incorporated within the limited Wakala Fee is strongly criticized by business leaders.

Related to Wakala Fee

  • Hire Fee the hire fee specified in Item 13.

  • Hookup fee means a fee for the installation and inspection of any pipe, line,

  • L/C Fee has the meaning specified in Section 2.03(i).

  • Tipping Fee means a fee or support price determined by the local authorities or any state agency authorised by the State government to be paid to the concessionaire or operator of waste processing facility or for disposal of residual solid waste at the landfill ;

  • Pupil fee means a fee, deposit or other charge imposed on pupils, or a pupil’s parents or guardians, in violation of Section 49011 of the Education Code and Section 5 of Article IX of the California Constitution, which require educational activities to be provided free of charge to all pupils without regard to their families’ ability or willingness to pay fees or request special waivers, as provided for in Hartzell v. Connell (1984) 35 Cal.3d 899. A pupil fee includes, but is not limited to, all of the following:

  • Rental Fee A fee charged by the Contractor for the rental of a compactor or roll-off container.

  • Loan Fee shall have the meaning assigned in Section 5.1.

  • Contract Fee means the price, fee, rent, or royalty payable in a contract under this chapter or

  • Upfront Fee has the meaning specified in Section 2.07 hereof.

  • Entrance fee means money paid in a lump sum or installments or property transferred pursuant to a continuing care agreement before initiation of continuing care for 1 or more individuals and that confers the right to the continuing care.

  • Access Fee means a fee prescribed for the purposes of section 22(6) or 54(6), as the case may be;

  • Base Fee means the amount of compensation mutually agreed upon for the completion of Basic Services.

  • Monthly Fee means the total consideration, including but not limited to, equipment or locker rental,

  • Impact fee means a payment of money imposed under Title 11, Chapter 36a, Impact Fees Act.

  • Development Fee means a fee for the packaging of a Property, including negotiating and approving plans, and undertaking to assist in obtaining zoning and necessary variances and necessary financing for the Property, either initially or at a later date.

  • Reservation Fee means the fee set forth in the applicable Program Guide, relating to the aggregate principal amount of the particular Mortgage Loans which the Participant has committed to originate and sell to the Servicer (which is not applicable to MCC stand-alone product) pursuant to a Reservation Request, payable contemporaneously with the submission of the corresponding application package, all in accordance with the procedures set forth in the applicable Program Guide.

  • School Fees means the money payable by the Parent/s to the School in connection with a Student’s education, excluding any Enrolment Fee, Deposit or Additional Fees.

  • Marketing Fee means the fees paid by Home Credit to Dealer/Provider to support the use of Home Credit’s Product;

  • Target fee, as used in this contract, means the fee initially negotiated on the assumption that this contract would be performed for a cost equal to the estimated cost initially negotiated, adjusted in accordance with paragraph (d) of this clause.

  • L/C Fees has the meaning set forth in Section 3.4(c).

  • Service Fee means a fee charged by us to you for the administration of your credit facility.

  • Facility Fee has the meaning specified in Section 2.09(a).

  • Initial Fee means any applicable one-off initial or installation fee, as may be stated in an Order;

  • Royalty Fee “Royalty Fee” means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Break Fee means an amount to compensate a Proponent for some of the costs the Proponent had incurred in developing and submitting a Proposal in the event that the RFP Process is cancelled, as determined by the Sponsors in accordance with RFP Section 10.3.3;

  • Square feet or "square foot" as used in this Lease includes the area contained within the leased premises together with a common area percentage factor of the leased premises proportionate to the total building area.