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MusharakahMusharaka is an Islamic mode of financing in the form of a partnership between the bank and its client whereby each party contributes to the capital of the partnership in equal or varying degrees either to establish a new project or share in an existing project.The accruing profit is divided between the partners pre-agreed formula, while losses are shared on pro rata basis. The word Musharakah is derived from the Arabic word Sharikah meaning partnership. Islamic jurists point out that the legality and permissibility of Musharakah is based on the injunctions of the Qur'an, Sunnah, and Ijma (consensus) of the scholars. It may be noted that Shirkah in the Islamic Fiqh is divided into two kinds:
Musharakah agreement may be entered into for a short-term or long-term period. The capital contributed by the bank in a Musharaka may remain constant throughout the contracted period. This is referred to as constant Musharakah. Otherwise the bank gradually transfers its share in the Musharaka to the Musharik so as to decrease its share in order to transfer the ownership of the venture to the other party. This is a diminishing Musharakah. Profits are shared in accordance with the Musharakah agreement. Losses are normally shared in proportion to the capital contributed by each Musharik.  |
Life Insurance People don’t generally look forward to getting life insurance but it doesn’t have to be a terrible or excruciating process.Insurance USA.com streamlines the decision process and gives you a library of life insurance information designed to help you avoid mistakes and have a reasonable grasp on how life insurance functions. We think you should know as much as possible so you can make informed policy choices.Unfortunately, while death is the most unpleasant of subjects, it is also the one certainty we all face. We all hope we can leave this life on our own terms but should the unimaginable happen, life insurance can help cushion death’s blow and ease the burden left on surviving loved ones. In this way, you can rest assured with peace-of-mind that your family members will be provided for after you’re gone.That is the essential function of life insurance: protecting your family’s financial well-being in the event of your untimely demise.When shopping for a life insurance policy, you will quickly find there are many different policies from which to choose. Different insurance companies often offer rates that differ greatly and it pays to shop carefully for the lowest premiums, excellent customer service, and a strong financial reputation.You will want to take your family and personal situation in account. For example, if you have children who are grown and independent, you will not need to purchase as much coverage as if you have children who are still young and rely upon you. Also, if your spouse has a job and is generally financially strong, this could also mean you need less coverage.You will want to carefully consider policy details and if possible you should purchase coverage for a 12-month period rather than month-to-month. Doing so allows you avoid fees.Make sure you look into a cash-value policy which gives you opportunities to invest or borrow money. This can be a good alternative but more expensive to term-life, which simply pays out to your survivors when you die.So what are you waiting for? InsuranceUSA.com is here to help you find the life insurance policy that best fits you and your personal situation while remaining affordable. Get started now and sleep well at night knowing your family and loved ones will be provided for no matter what happens!Life Insurance
Micro Insurance“enabling people to overcome uncertainty”Over 30% of Pakistan’s population lives in poverty, and that number is only likely to go up in the near future. Let that shocking fact sink in for a moment. Theirs is a life lived on the margins, a life of uncertainty where the illness of a single family member, or an unforeseen disaster, can push the entire household into an endless cycle of debt and repayment. Entire generations are then held hostage to a system in which they cannot possibly hope to win. But does that mean that it is impossible for the poor to look forward to a life where uncertainty is not the norm? In keeping with our vision of ‘enabling people to overcome uncertainty’ Jubilee Life is committed to providing even the poorest members of society the chance for a better tomorrow. Based on the principles of Affordability, Accessibility, Flexibility and Simplicity, our pioneering microinsurance products have already provided insurance benefits to a previously untapped market of over 1,000,000 people.Aimed at providing life and health insurance benefits to the classes who cannot typically afford such facilities, we offer Credit Life and Savings Completion products including supplementary benefits like Funeral Expense. Best of all, this coverage can be obtained by making manageable, low premium payments. At Jubilee Life we believe that poverty must not equal powerlessness, and we have the products to prove it.Micro Insurance | Jubilee Life
Secure Life PlanFinancial security. We all want it, but very few actually achieve this goal. Now, we have a product that provides a solution for your financial needs, providing you and your loved ones with the means to safeguard against any unforeseen event, be it death, disability or illness. Secure Life Plan is a life insurance plan that not only earns efficient returns over the long term but also helps you plan for your future financial goals. For details, you may visit your nearest SCB Branch or log on to www.standardchartered.com.pkStandard Chartered Pakistan | Jubilee Life
Iqra Education PlanWith rising tuition fees, it’s hard to make ends meet without compromising on your child’s education. It’s one of the most difficult choices a parent has to make, because it involves sacrificing your child’s tomorrow for the sake of today. Well, now you no longer have to make that compromise, because SCB with the collaboration of Jubilee Life, is offering you Iqra – an education plan that allows your child to live up to his/her full potential today…and tomorrow. For details, you may visit your nearest SCB Branch or log on to www.standardchartered.com.pkDownload Brochure (English/Urdu)Standard Chartered Pakistan | Jubilee Life
Family CareThe time you spend with your family is precious and you would not trade it for anything in the world. However life is unexpected and it’s essential that your family has the financial resources to continue living in comfort, should something unfortunate happens to you. For this purpose, we bring you Family Care – a term life and accidental death insurance plan, which ensures that your loved ones are taken care of in case of mishap. For details, you may visit your nearest SCB Branch or log on to www.standardchartered.com.pkStandard Chartered Pakistan | Jubilee Life
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