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What Is Modaraba?
 Modaraba is a term that is widely used in Islamic banking and it is used instead of interest. As interest is not considered a legal profit in Islam therefore, Islamic banks operate with the concept of Modaraba. According to this terminology two parties negotiate and one party gives the money (investor) to the other part (mudarib). Instead of inetrest there is a profit that is known as Modaraba. It was first introduced when there was a sudden boom in the Islamic banking in the world and it is considered very important because the Muslim community all over the world now want to finance in Islamic banking only. www.irtipms.org |
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by
sehri  29 Jun 2008 18:19 |
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