Wakala Transaction definition

Wakala Transaction means the Wakala Amount(s) invested by Muwakkil from time to time.
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Wakala Transaction means, the appointment of the Customer as the agent of the Bank for the issuance of a Letter of Credit to a specified third party by the Bank as mentioned in the Transaction Notice.
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Examples of Wakala Transaction in a sentence

  • Any termination shall be without prejudice to the rights and obligations of either party in relation to any outstanding Wakala Transaction concluded prior to the date of termination.

  • The Muwakkil shall provide the Wakil with certified true original specimen signature(s) of the individual(s) authorized to sign this Agreement on its behalf and all other documents required in connection herewith as may be requested by the Wakil prior to entry into the first Wakala Transaction and as may be reasonably requested from time to time thereafter.

  • The conditions of this Agreement shall remain applicable until such Wakala Transaction is settled and each party has received all amounts due to it pursuant to the Wakala Transaction..

  • Notwithstanding Clause 4.6 (No withdrawal), the Muwakkil may, during a Wakala Transaction Period, send by way of the ila App a notice to the Wakil requesting that one or more Wakala Investments be terminated early prior to the Maturity Date (an “Early Termination Request”), provided that the Wakil shall not be under any obligation to accept or to take any action whatsoever in relation to such Early Termination Request.

  • If the Wakil, at any time during the Wakala Transaction Period, determines that the Actual Profit Rate in relation to a Wakala Investment, may be lower than the Anticipated Profit Rate, the Wakil shall as soon as practicable notify the Muwakkil thereof by way of the ila App and indicate the revised Anticipated Profit Rate which the Wakil estimates that it will be able to achieve in relation to the remaining period of the relevant Wakala Investment (the “Revised Anticipated Profit Rate”).

  • The conditions of this Agreement shall remain applicable until such Wakala Transaction is settled and each party has received all amounts due to it pursuant to the Wakala Transaction.

  • If the Actual Profit Rate is equal to or greater than the Anticipated Profit Rate, the Wakil shall pay to the Muwakkil an amount equal to the aggregate of (i) the Investment Amount and (ii) an amount equal to the Investment Amount multiplied by the Anticipated Profit Rate and the number of days in the relevant Wakala Transaction Period and divided by 360 or 365 depending on the day count convention for the corresponding Specified Currency as determined by the Wakil.

  • The ongoing use of this area is under continual review with a planned date to deescalate being confirmed.DToCs and Stranded PatientsThe DToC rate for January has highlighted a significant increase with a rate reported of 8.33%.

  • Hugo Toupin explains the geopolitical stakes of hydrocarbon resources by the fact that these fossil energies (hydrocarbons) are unequally distributed in the world and therefore generate many tensions and covetousness.14 There are major security issues surrounding hydrocarbons.

  • In such cases the rights and responsibilities arising from that transaction shall be assumed by the Customer; and any intended effect of the transaction entered into by the Bank shall be binding on the Customer.1.3.1.11 The Bank may at times, simultaneously undertake to act as an agent for more than one Customer in a Wakala Transaction.