Deposit Mode

There are two deposit modes:
1. Al-wadiah
2. Mudarabah

Al-Wadiah Principle :

• The depositor can deposit amount in this account.
• The depositor can withdraw any amount by cheque.
• No profit is allowed in this account.
• The depositor shall also not bear any loss.
• Cheques bills etc collected in this account against commission.
• Govt excise and incidental charge realise from the A/c as per rule.
•  
•  
• Mudarabah Principle
• The word Muraba has been derived from Arabic word Darb/ Darban which means
• movement to earn Rahmat (Munafa) of Allah. (Sure-Muzzammil:20)
• Mudaraba is a form of partnership in profit where one of the contracting parties is called the
• Shahib-Mal or the Rabb-ul-Mal (the financer) provides a specifed amount of capital
• and acts like a sleeping/dormant partner while the other party is called the Mudrib
• (entrepreneur) provides the entrepreneurship and management for carrying on any venture
• trade industry or service with the objectives of earning profits.
• 
  
• besides the above:
• The Mudrib is in the nature of a trusted as well as an agent of the business,.
• The Mudarib is required to work with honesty and sincerity and to exercise
• The maximum possible care and precaution in the exercise of h of is functions.
• Any profit accrued is shared between two parties on a pre-agreed rates while capital loss
• is exclusively borne by the partner providing the capital except it is due to the breach of trust by the Mudrib.
• If the Mudrib is guilty of willful negligence, fraut of misrepresentation, he is himself
• responsible for the consequences, and the resulting loss, if any, cannot be charged to the
• Mudaraba Account.