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CBN Issues Guidelines on Mgt of Investment Account Holders for Non-Interest Financial Institutions - Business Today NG
April 17, 2019/CBN Introduction Non Interest Financial Institutions (NIFIs) mobilize large percentage of their funds using Mudarabah and Wakalah contracts. In Mudarabah, the bank is acting as the Mudarib (entrepreneur) and the fund providers as the Rabb-ul-Mal otherwise called Profit Sharing Investment Account Holders (PSIAHs). In Wakalah, the bank acting as Wakeel (investment agent) for …