جدید معیشت،تجارت مروجہ اسلامی بینکاری میزان شریعت میں خصوصی اشاعت

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These recommendations only cover those aspects of the Islamic banking system which are in a dominant or regular usage. Secondary aspects and minor dealings have been exempted to avoid unnecessarily lengthening this document.

Mudarba:

The currently implemented system of mudarba doesn’t comply with the standards of a shariah-compliant mudarba; following are its reasons:

A depositor who is the owner of the money is not consulted or taken under confidence at the time of investing his money into a particular business activity.

One sided increase in the profits for the bank and one sided exploitation of all rights – this means that despite an increase in the overall profits, the owner’s (depositors) profit does not go up proportionally. While the bank as a mudarib also fully exploits all its shariah given rights and out rightly denies all the rights of the depositor as the owner of the money.

Usage of mudarba money only in financing instead of some business activity. Although, mudarba money should only be invested into business activity and it is not permissible to utilize it otherwise.

Granting less weightage to the capital of the depositor, while the bank grants greater weight to its own capital although it is far less than the collective capital of the depositor.

In order to give weightage in the profits, an increase/decrease in depositor’s capital and setting a time limit as a standard makes this issue a mirror image of an interest based one.