IBANK 6.7.8 Treatment of Diminishing Musharakah
(1) The capital charge for a diminishing musharakah contract depends on the category of the enterprise or asset to which the contract relates.
(2) If the contract is in relation to a private commercial enterprise to undertake trading activities in foreign exchange, shares or commodities, the capital charge depends on the underlying asset as set out in Chapter 6.
(3) If the contract is in relation to a joint ownership of real estate or movable assets through musharakah with murabahah subcontract, the capital charge is 15% (that is, the charge for the murabahah subcontract, as set out in rule 6.7.3).
(4) There is no capital charge if the contract is in relation to a joint ownership of real estate or movable assets through musharakah with ijarah subcontract, because there is no charge for the ijarah subcontract under rule 6.7.7.
|Derived from QFCRA RM/2015-2 (as from 1st January 2016).|