This study aimed to determine warning flags of your Modaraba fraud and provides some tips towards reduction of Ponzi strategies. Good thematic studies of your investigation, accumulated as a consequence of semi-prepared interviews that have you are shot respondents, let the brand new boffins to conclude with the substance of ripoff. Efficiency revealed that vital warning flag of ripoff try higher profits, void financial support agreements, multifaceted, cutting-edge and unregistered operations, exponential and you may participative rate out of agents’ percentage, and deferred unexpected winnings. Results subsequent suggest that buyers and you will state-work on regulating government might help about reduction regarding Ponzi plans to your owed do it of the roles.
Notes
Modaraba was a keen Islamic commitment between your movie director/Modarib and you can holder of financing/Rabul-Mal; where the owner away from a money spends money therefore the manager capitalizes their education having powering an excellent permissible organization (Hassan and you can Lewis 2007; Usmani 2002). Modarib and Rabul-Mal dispersed profit from organization while the decideded upon ration, although loss is going to be adjusted from the states of Rabul-Mal (Usmani 2002).
Such as, Dream Indicates Globally (Pvt) Restricted, Fantasy in life Around the world (Pvt) Restricted, Modaraba People, Earn They Edu (Pvt.) Minimal, M/s 3A Alliance (private) restricted, Troverz Revenue (Pvt) Restricted, M/s Geneva Auto Rental Organization, Domain names By Mlm (Pvt.) Restricted, M/s Askari Classification Financing, XIANLE Health Products (Pak) Co. Limited, M/s advance payday loans Arizona. DXN Around the world Pakistan (Private) Restricted, Aapna (Pvt) Restricted, M/s M.N.Meters Bicycle (Private) Minimal, Believe Global (Pvt) Minimal, M/s UNAICO Pakistan (Pvt.) Minimal, CNI-Chelate Net Internationally Gold (Pvt) Restricted, M/s International Landmark (Pvt.) Restricted, Leader Product sales Services, Gold mine Internationally (GMI), Family relations Marketing Features, Daoud Resource Lender Restricted, Sahara Abrasion Cards, Foreign language Lotto, Fantasy Genius International, Xianle and you will Aims.
“O your that have felt, when you price a debt for a selected term, write it down. And you will assist an effective scribe produce [it] ranging from you in fairness. Let no scribe won’t create because Allah features coached your. So help your establish and you will allow the one who has the responsibility influence. And you may assist your fear Allah, their Lord, rather than exit anything out of it. However individual who contains the responsibility was off minimal insights or weak or unable to determine himself, following assist his guardian dictate for the fairness. And give witness several witnesses off one of their people. Whenever you can find maybe not one or two males [available], next a person as well as 2 people regarding those individuals whom you accept since witnesses-in order for if one of your own ladies errs, then your other can encourage this lady. And help perhaps not the witnesses reject when they’re called upon. And don’t become [too] exhausted to enter they, whether it is small or large, because of its [specified] name. That’s significantly more only on the attention out-of Allah and you can stronger because research plus attending end question between your, but when it is a primary purchase which you perform certainly yourselves. For [then] there is absolutely no fault through to your if you don’t develop it. And take witnesses after you end a contract. Assist zero scribe getting injured or one witness. To possess in the event you very, in reality, it is [grave] disobedience inside you. And you will concern Allah. And you can Allah shows you. And you may Allah are Awareness of things.” (The new Qur’an, 2:282).
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