Red flags of your Modaraba ripoff-good ponzi strategy in Pakistan: using prey makes up top protection

This study lined up to identify warning flag of your Modaraba con and will be offering some pointers into protection out of Ponzi schemes. A good thematic research of studies, built-up because of semi-organized interview with you are take to respondents, permitted this new researchers to close out to the compound of your swindle. Efficiency indicated that crucial red flags of your own scam was extreme payouts, emptiness capital arrangements, multifaceted, cutting-edge and you can unregistered functions, rapid and participative speed of agents’ fee, and you may deferred occasional profits. Findings next suggest that people and you can county-manage regulating bodies can help from the cures of Ponzi systems into owed get it done of their opportunities.

Notes

Modaraba is actually a keen Islamic commitment between your director/Modarib and you can proprietor from fund/Rabul-Mal; where holder from a finance invests money and the director capitalizes his studies to own powering an effective permissible providers (Hassan and you can Lewis 2007; Usmani 2002). Modarib and you will Rabul-Mal dispersed cash in on organization because the decideded upon ration, but the losses is going to be adjusted from the claims from Rabul-Mal (Usmani 2002).

For example, Fantasy Ways Globally (Pvt) Minimal, Dream in life Global (Pvt) Limited, Modaraba Enterprises, Earn It Edu (Pvt.) Restricted, M/s 3A Alliance (private) minimal, Troverz Profit (Pvt) Restricted, M/s Geneva Car Leasing Organization, Domains By Multi-level marketing (Pvt.) Minimal, M/s Askari Category Resource, XIANLE Health Factors (Pak) Co. Limited, M/s. DXN Internationally Pakistan (Private) Limited, Aapna (Pvt) Restricted, M/s Yards.N.Yards Cycle (Private) Minimal, Believe Worldwide (Pvt) Restricted, M/s UNAICO Pakistan (Pvt.) Limited, CNI-Chelate Net In the world Gold (Pvt) Restricted, M/s All over the world Landmark (Pvt.) Restricted, Alpha Purchases Service, Gold-mine In the world (GMI), Family relations Purchases Services, Daoud Money Lender Restricted, Sahara Scrape Credit, Spanish Lottery, Fantasy Genius Around the globe, Xianle and you can Aims.

“O your who possess considered, after you package a debt for a designated name, establish they down. And you will assist a scribe develop [it] anywhere between you during the fairness. Help zero scribe won’t generate since the Allah has actually instructed your. So help him produce and you will let the individual who contains the obligations dictate. And let your worry Allah, his Lord, and never leave something from it. If the person who contains the responsibility is actually of restricted expertise or poor or incapable of determine themselves, up coming let their protector dictate inside the justice. And give experience a couple witnesses away from among their males. Whenever discover maybe not two guys [available], after that a person as well as 2 people out of men and women the person you accept since the witnesses-in order that if a person of your ladies errs, then most other normally remind her. And you may let not the fresh witnesses deny while they are called upon. Plus don’t getting [too] tired to type they, whether it is big or small, because of its [specified] name. Which is much more merely throughout the attention away from Allah and you will healthier as research and much more probably stop question between you, except in case it is a direct purchase you run one of yourselves. To own [then] there’s absolutely no blame up on you if you do not build it. And take witnesses once you end a contract. Help zero scribe become injured or any witness. Having if you very, in fact, it is [grave] disobedience inside you. And you can worry Allah. And you may Allah explains. And you may Allah was Understanding of all things.” (The Qur’an, 2:282).

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