Triple Mudarabah
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Definition of "Triple Mudarabah"
A proposed mechanism to integrate cash waqfs into Islamic banking business. The cash waq f fund, pooled by various persons willing to donate their funds, acts as rabb al-mal. The first mudarib is the Islamic bank. It also functions as a trustee of the cash waqf fund. The second level is the various mudarabah companies, who act as mudaribs and the Islamic bank acts as rabb al-mal for these companies. The third level is that of the entrepreneurs, who act as mudaribs and the mudarabah companies act as rabb al-mal for them.