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ISLAMIC BANKING CONCEPT (IJARAH (Application (Consumer durable (Affin…
ISLAMIC BANKING CONCEPT
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MUDARABAH
Definition
A contract where the owner presents his property to labor to do business with it and profit is jointly owned by them according to their agreement.
Application
Investment account
ASB, Maybank, CIMB Islamic, Bank Rakyat
Capital creation
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Profit will be distributed according pre-agreed profit sharing ratio and any losses will be borne by the capital provider
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