This study aimed to spot red flags of your Modaraba swindle and will be offering some suggestions for the cures away from Ponzi systems. Good thematic research of your own studies, accumulated using partial-prepared interview that have to try to get shot participants, enabled the brand new experts in conclusion toward substance of one’s fraud. Results showed that crucial warning flags of your swindle are extreme profits, emptiness investment arrangements, multifaceted, cutting-edge and you will unregistered functions, rapid and you may participative speed out of agents’ commission, and deferred periodic profits. Results further suggest that investors and you may state-work at regulatory bodies may help from the prevention regarding Ponzi systems for the owed exercise of its spots.
Modaraba are an Islamic partnership within manager/Modarib and you may manager out of loans/Rabul-Mal; where in fact the owner off a finance spends currency while the movie director capitalizes their studies to have powering a good permissible organization (Hassan and Lewis 2007; Usmani 2002). Modarib and you may Rabul-Mal spreading make the most of organization because arranged ration, nevertheless the loss is usually to be adjusted up against the states of Rabul-Mal (Usmani 2002).
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