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Master Wakala terms and conditions Habib Bank AG Zurich These terms and conditions in relation to the Wakala transactions (Wakala Terms) shall be read in conjunction with the Application Form where
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The master wakala agreement is used to outline the terms and conditions of an investment arrangement in Islamic finance, specifically detailing the role of the wakil (agent) and the principal.
Entities and individuals engaged in Islamic finance transactions where a wakala agreement is utilized are required to file the master wakala agreement.
To fill out the master wakala agreement, one must provide identification details of the parties involved, specify the purpose of the wakala, outline the terms of the investment, and include relevant financial obligations and profit-sharing arrangements.
The purpose of the master wakala agreement is to formalize the relationship and responsibilities between the principal and the agent in an investment setup, ensuring compliance with Sharia principles.
The information that must be reported includes the names and details of the parties, the investment amount, terms of engagement, duration of the agreement, and any applicable fees or profits.
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