This research lined up to recognize red flags of your Modaraba con and offers ideas for the avoidance away from Ponzi schemes. An excellent thematic data of your own study, compiled compliment of semi-arranged interviews with to get sample respondents, let the latest scientists to summarize into the substance of your fraud. Abilities indicated that vital warning flags of the fraud try extreme winnings, void money arrangements, multifaceted, complex and you may unregistered functions, exponential and you will participative rate from agents’ payment, and you will deferred periodic profits. Results after that advise that people and you can county-work on regulating authorities may help on protection of Ponzi strategies toward owed get it done of the roles.
Notes
Modaraba is actually an Islamic partnership amongst the movie director/Modarib and owner out-of fund/Rabul-Mal; where in fact the proprietor out-of a fund invests money in addition to movie director capitalizes their training to own running a permissible organization (Hassan and Lewis 2007; Usmani 2002). Modarib and Rabul-Mal spread make the most of providers as agreed upon ration, although loss is usually to be modified resistant to the claims from Rabul-Mal (Usmani 2002).
For example, Dream Indicates Internationally (Pvt) Limited, Dream in life In the world (Pvt) Minimal, Modaraba Organizations, Earn They Edu (Pvt.) Minimal, M/s 3A Alliance (private) limited, Troverz Revenue (Pvt) Restricted, M/s Geneva Auto Local rental Providers, Domains By Multi-level marketing (Pvt.) Minimal, M/s Askari Category Financing, XIANLE Health Things (Pak) Co. Minimal, M/s. DXN Globally Pakistan (Private) Restricted, Aapna (Pvt) Restricted, M/s Meters.Letter.M Motorcycle (Private) Minimal, Trust Around the globe (Pvt) Minimal, M/s UNAICO Pakistan (Pvt.) Minimal, CNI-Chelate Internet Around the globe Gold (Pvt) Restricted, M/s Globally Landmark (Pvt.) Limited, Leader Purchases Services, Gold mine International (GMI), Friends Sale Characteristics, Daoud Capital Lender Limited, Sahara Scratch Cards, Foreign language Lottery, Fantasy Genius International, Xianle and Seeks.
“O your with considered, when you offer a personal debt for a specified term, build they off. And you will let an excellent scribe produce [it] between you within the justice. Help no scribe decline to establish just like the Allah has actually trained your. Therefore let your write and let the individual who contains the obligations influence. And let him fear Allah, his Lord, rather than leave things from the jawhorse. However, if the one who has got the obligations is actually out of minimal information otherwise poor otherwise struggling to determine themselves, upcoming assist their guardian influence inside justice. And you may give witness one or two witnesses out of one of their boys. Of course, if there are not several men [available], after that men and two people away from people who you take on just like the witnesses-in order that if an individual of one’s girls errs, then the other can encourage the lady. And assist perhaps not brand new witnesses deny while they are called upon. And don’t feel [too] exhausted to type they, be it small or large, for the [specified] term. Which is so much more just regarding sight from Allah and you will stronger as facts and much more likely to avoid doubt anywhere between you, except if it is an immediate deal you make among yourselves. To possess [then] there is absolutely no blame upon you unless you make they. Or take witnesses when you end a contract. Assist no scribe end up being hurt otherwise one witness. For if you very, indeed, it is [grave] disobedience inside you. And fear Allah. And you may Allah shows you. And you can Allah is actually Knowing of all things.” (The newest Qur’an, 2:282).
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