INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
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Bank is deemed as the keeper and trustee of funds. If depositor demands for it, bank guarantees the refund of the whole amount of funds.
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Ijarah
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Wadiah
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Bai Bithaman Ajil
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Wakalah
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Explanation:
Detailed explanation-1: -In Wadiah, the bank is deemed as a keeper and trustee of funds and has the depositors’ permission to use the funds for its operations in a Shari´ah compliant manner. Deposits under Wadiah take the form of loans from depositors to Islamic banks and the bank guarantees refund of the entire amount of the deposit.
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