( Copy of the "Prototype" Qirad Agreement being viewed )
A QIRAD (Trading Mudharabah)Agreement was signed today in Bandar Baru Bangi, Selangor - Malaysia during the 2nd SOUQ QAFILAH-Muamalah Madinah.
The purpose of the Qirad is mainly for the trading of rice.
Nominated currency is the Gold Dinar and Silver Dirham, whenever and wherever possible. Furthermore, whenever and wherever possible, only Dinar and Dirham adhering to the World Islamic Mint(WIM) standards are to be used.
( Table with the Yellow Table Cover belongs to Qafilah KL-IIUM )
On another matter, Qafilahs from Overseas are participating as well. Amongst the countries seen at the 2nd Souq MM were France, Sudan & Sulu Dar Al-Islam as well as local Qafilahs. Making its maiden debut is the Qafilah "KL-IIUM" selling Nablus Palestinian Soaps, Baraka Habatus Sauda from Egypt & Rani Fruit Drink from Saudi Arabia amongst its merchandise.
( a Customer paying 2 Silver Dirhams for the purchase of some Palestinian soaps )
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