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.
Sample 1Sample 2Sample 3
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

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.

  • For Wakala bil ujrah (fee based agency) the Customer agrees to pay Wakala Fee to the Bank as per the BML Islamic Schedule of Charges and Fees.

  • Gleizes is Emeritus Professor at Institut National Polytechnique de Toulouse.

  • Wakala Fee Policy is subject to the following List of Special Conditions: Value Added Tax (VAT) In case of any changes in VAT rates, we shall charge you additional VAT on pro-rata basis for the period from the effective date of such changes in the VAT rate till the expiry of the policy.

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

  • In context of this fund, Wakala Fee is the Management Fee of the Fund.

  • For the avoidance of doubt, if the Customer requests liquidation or termination of the Investment prior to the relevant Investment Maturity Date, the Bank may liquidate or terminate the Investment and in such circumstances the Bank shall be entitled, in addition to the Wakala Fee, to a Performance Incentive (out of actual realized Wakala Profit) calculated in accordance with terms set out in the Wakala Deposit Form.

  • Wakala depositsWakala deposit is an agreement whereby the Group (the Muwakkil) provides certain amount of funds (the Wakala Capital) to an agent (the Wakeel) to invest it in a Shari’a compliant manner and in accordance with the feasibility study/investment plan submitted to the Muwakkil by the Wakeel, who is entitled to a fixed fee (the Wakala Fee) as a lump sum amount or a percentage of the Wakala Capital.

Related to Wakala Fee

  • Hire Fee the hire fee specified in Item 13.

  • 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.

  • 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.

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