Participation in & Apportionment of the Profit
The participation in & apportionment of the Profit will be in accordance with the ratios set out in the Profit Allocation Schedule, of which the Applicant acknowledges & agrees that he is familiar with its terms, as the same may be amended from time to time. The Investments are evaluated at the end of every month. Profit realized & accrued for the month shall be credited to the relevant Account at the end of each month during the Deposit Period.
On the Maturity Date, an account will be drawn up by the Bank in accordance with accepted accounting principles & the Profit -if any- due to the Applicant & the Bank shall be worked out & paid in the proportions specified in the Profit Allocation Schedule.
The payments payable monthly by the Bank prior to the Maturity Date of the Deposit shall be calculated on prevailing profit rate at the date of calculation, provided that the Applicant shall maintain the Deposit until the Maturity Date. In event the Deposit is withdrawn by the Applicant for whatever reason prior to the Maturity Date, the Bank preserves the right to refund the allocated monthly payments.
Mudarabah Profit Allocation Schedule