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Available Means for Investment are:
Credit Cash Investment
Investment:
Investment outside credit cash investment (which is the
basis of this paper) that takes the following forms
First: Mudarabat
Second: Musharakat
Third: Islamic Sukuk
Fourth: Securities
Fifth: Investment Funds
First: Mudarabat
Mudaraba combines in its essence between the owners of
the cash and the experts for the purpose of gaining
Halal profits for both parties with percentages agreed
upon.
The process of Mudaraba takes four stages which are:
• Formation of the project
• The results
• Paying off the capital
• Distribution of resulting cash
Mudaraba project consists of The Bank that offers the
cash ( Capital ) as the owner ( Rab Al-Mal )and the
investor who put his expertise and efforts to invest
that money for a percentage as a return from the profit
( as agreed upon ) , the two parties count the result
out Mudaraba and they split the profit at the end of the
mudaraba duration according to the contract with
consideration to Sharea Conditions .The Bank then gets
back its Cash (capital before distributing profits
)during the repayment. The Money resulting from Mudaraba
is distributed between the two parties according to the
contract.
Mudaraba in the Islamic Banks is governed by a several
Sharea Rules. eg. The capital must be known in cash and
current not an offer, not to be a debt of the investor,
Second: Musharakat
Partnership in the Islamic Banks
Partnership at the Islamic banks is distinguished with
the existence of control and actual partnership which
some might see it as a defect because of intervention
and partnership in the policy making which might
restrict the employer , nevertheless , it serves two
purposes
First :close follow-up ensures the rights of both sides
especially at the preliminary stage where great
obstacles may occur with variety of solutions that gives
great importance to decision making
Second: Islamic banks have experiences about the market
and funds .They don’t offer their experience for leasing
but for contribution and to work together to the
successes of the project . Therefore, having the bank`s
experience near the investor ensure the safty of the
investment and warnes against falling into mistakes or
hazards that face the young investor.
The Investor must bear in mind such method as priority
in investing at any bank .
Musharakat are two kinds; Permanent Musharakat ,and
decreasing Musharakat both comes under the range of :
individuals or corporate Musharakat
Kinds of Musharakat
• Funding Musharakat
• The Islamic Bank enters as a partner with individual
or corporation to establish
investment projects with a percentage of capital and then of profits or
loss
• Funding with partnership in the output
This unique Islamic model, eg. farmers are awarded
grants to help him implant his farm , the money that
comes from the crop is divided between
The farmer and the bank according to the contract
between them
Fourth:Securities
• Circulated Investment Bonds
• Investment funds Documents
• Corporate shareholders shares
Fifth: Investment Funds
Banks and financial investment institutions have played
a great role in the investment funds area and they had
the ability to raise money and to mobilizing it through
those investment funds, they ensure that these funds are
compliant to the Islamic Sharea. It is important to
acknowledge that Mudaraba contract is one of the
important investment funds / Investment portfolios.
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Baghdad