Section 36January 26, 1990, Sec./Art. 36

Sharing Between the Bank and the Investors. - Not later than the end of the first month of each financial year, the Board of Directors shall determine and publish the general percentages of profit to be allocated to the total funds participating in joint investments of the Islamic Bank.

The Islamic Bank as a joint venturer (mudarib) shall be entitled to certain percentage after deducting the amount allotted to investors. The Bank shall likewise be entitled to a share in the profits of joint investments in proportion to its own invested funds.

For the purpose of calculating funds employed in financing operations priority shall be given to joint investment accounts and the holders of muquaradah bonds.

All zakat due the shareholder's capital and reserves represented by the pecuniary value of shares and the zakat due on the investor's funds or profits accruing to every depositor shall be paid to the zakat fund, subject to their instructions.