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E-Mudaraba Suggested System For Islamic Investments

Author

Listed:
  • Hamid, Omer Hag

    (Bachelor of Science in International Business, AMA International University Aligarh, Bahrain)

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.

Suggested Citation

  • Hamid, Omer Hag, 2019. "E-Mudaraba Suggested System For Islamic Investments," Journal of Internet Banking and Commerce, , vol. 24(01), pages 01-21, April.
    • Handle: RePEc:ris:joibac:0027
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    More about this item

    Keywords

    Mudaraba; Sharia; Islamic Banks; E-Bank; Investments; Electronic Signature; Applications;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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