Warning flags of your own Modaraba scam-a ponzi strategy inside the Pakistan: playing with sufferer makes up top avoidance

Warning flags of your own Modaraba scam-a ponzi strategy inside the Pakistan: playing with sufferer makes up top avoidance

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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“O your that have felt, when you offer a personal debt for a designated label, generate they off. And you can help a beneficial scribe make [it] between your from inside the justice. Help zero scribe refuse to generate since the Allah keeps coached your. Very help him make and you may allow the individual who has got the obligations dictate. And you can let your anxiety Allah, their Lord, and never hop out one thing from the jawhorse. However individual who provides the obligation was regarding minimal information or poor otherwise not able to influence himself, up coming assist his protector determine into the fairness. And give witness a couple of witnesses of certainly the males. While you’ll find maybe not several boys [available], following a guy as well as 2 girls of those individuals the person you take on since the witnesses-in order for if one of your own girls errs, then your most other can also be remind the girl. And you can assist not new witnesses reject if they are called upon. And do not feel [too] weary to write it, whether it is big or small, because of its [specified] title. That’s a lot more simply on attention out of Allah and more powerful due to the fact research plus planning prevent doubt between your, except if it’s a primary transaction which you carry out among yourselves. For [then] there isn’t any blame abreast of your if you don’t create it. Or take witnesses after you finish a contract. Let zero scribe feel harmed otherwise people experience. To have when you do very, actually, it is [grave] disobedience inside you. And you may anxiety Allah. And Allah teaches you. And Allah is actually Awareness of everything.” (The Qur’an, 2:282).


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