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This account
is based on the contract of Mudharabah, where a contract is
made between the provider of capital (depositor) and the
entrepreneur of the fund (the Bank) to enable the Bank to
carry out business within the Shariah principles, whereby
both parties agree to share the profits according to
pre-agreed profit sharing ratio. The bank will pool
depositors’ funds and invest them in accordance with Shariah
principles. |