Wakala Pool definition

Wakala Pool means the separate independent pool of the assets and investments constituted by the Bank for the purpose of investing the Investment Amounts. Unless the contrary intention appears:
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Wakala Pool means the pool of assets in which the Wakil shall invest the Investment Amounts which may consist of the Wakil’s general treasury pool comprising the funds held and invested by the Wakil from time to time in a manner compliant with the principles of Shari’a.
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Examples of Wakala Pool in a sentence

  • An agency contract where the Customer (in his capacity as principal) appoints the Bank as his undisclosed agent to carry out an investment on his behalf or invest his fund in the Wakala Pool of the Bank either for a fixed fee and/or Performance Incentive.

  • The Customer wishes to appoint the Bank to act as his agent and to invest the Customer’s funds in the Wakala Pool on an unrestricted Wakala basis in accordance to the Principles of Sharia and the Bank is willing to accept such appointment on the terms of the Wakala Deposit Form and these Terms & Conditions (which shall be read and construed together and shall together constitute the “Agreement”).

  • An agency agreement where the Customer (in his capacity as principal) appoints the Bank as his undisclosed agent to invest his fund in the Wakala Pool for a fixed fee and/or Performance Incentive.

  • The Customer wishes to appoint the Bank to act as his agent and to invest the Customer’s funds in the Wakala Pool on an unrestricted Wakala basis in accordance withthe Principles of Sharia and the Bank is willing to accept such appointment on the terms of the Wakala Deposit Form and these Terms & Conditions for Wakala Deposits (which shall be read and construed together and shalltogether constitute the “Agreement”).

  • The Muwakkil acting in its capacity as principal wishes to appoint the Wakil to act as agent of the Muwakkil with respect to the investment of the Muwakkil's funds in Islamically acceptable transactions through and as part of the Wakala Pool.

Related to Wakala Pool

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