E-MUDARABA SUGGESTED SYSTEM FOR ISLAMIC INVESTMENTS

Omer Hag Hamid ()
Additional contact information
Omer Hag Hamid: Bachelor of Science in International Business, AMA International University Aligarh, Bahrain

Journal of Internet Banking and Commerce, 2019, vol. 24, issue 01, 01-21

Abstract: This paper initiates a new ideas, for technical proposal, to digitalize the traditional Mudaraba contract, with a very special proposal, provides an effective technical mechanism, to complete the process of managing the Mudaraba account, in accordance with the requirements of Islamic Shariah, regarding the Mudaraba rules, by providing variety of proposed technical options, covering the set-up of Mudaraba investment account, managing this account, through withdrawal and deposit operations, easily distribution of generated profits, ability to convert the account nature from investment to current account, and vice versa. As well as, simplifying the operations, with the ability creation of an electronic system instead of the complex traditional procedures, which used in the traditional management of Mudaraba accounts, the system considers strongly the Islamic banking regulations and rules which are essential to validate the Islamic banking transactions. Additionally, the system considered the required level of security in banking operations, by introducing a mechanism to secure the operation from any potential threatens.

Keywords: Mudaraba; Sharia; Islamic Banks; E-Bank; Investments; Electronic Signature; Applications (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.icommercecentral.com/open-access/emuda ... tments.php?aid=87499 Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:joibac:0027

Access Statistics for this article

Journal of Internet Banking and Commerce is currently edited by Vijaya Lakshmi, Nahum Goldmann and Dale Pinto

More articles in Journal of Internet Banking and Commerce
Bibliographic data for series maintained by Dale Pinto ().