Application of Mudarabah in Islamic Banking: A Case Study Of Jaiz Bank Plc, Nigeria

The conventional Banking system is well known to Nigeria and in conventional Bankingpractice; interest plays a prominent role in the financial intermediation process. Islamic bankinghas the same purpose as conventional Banking, that is to generate money for the Bankinginstitution. But that is not the sole purpose either, because it accepts only monies andinvestment that are Halal or considered Sharĩ’ah compliant. This work examines principles ofMuḍãrabah as a viable means of investment, and assesses the level of Jã'iz Bank Plc’scompliance with the principles of Muḍãrabah. To actualize this, the research work applied bothempirical and doctrinal methodologies. The significance of this research work lies in explaininghow the principle of Muḍãrabah is applied in Jã'iz Bank Plc in order to assess its compliancewith the principles of Sharĩ'ah. The work observed that there is lack of awareness about theMuḍãrabah product and service of the Jaiz Bank plc. Therefore, recommends that Jaiz Bankshould provide adequate awareness and education.

The conventional Banking system is well known to Nigeria and in conventional Banking
practice; interest plays a prominent role in the financial intermediation process. Islamic banking
has the same purpose as conventional Banking, that is to generate money for the Banking
institution. But that is not the sole purpose either, because it accepts only monies and
investment that are Halal or considered Sharĩ’ah compliant. This work examines principles of
Muḍãrabah as a viable means of investment, and assesses the level of Jã'iz Bank Plc’s
compliance with the principles of Muḍãrabah. To actualize this, the research work applied both
empirical and doctrinal methodologies. The significance of this research work lies in explaining
how the principle of Muḍãrabah is applied in Jã'iz Bank Plc in order to assess its compliance
with the principles of Sharĩ'ah. The work observed that there is lack of awareness about the
Muḍãrabah product and service of the Jaiz Bank plc. Therefore, recommends that Jaiz Bank
should provide adequate awareness and education.

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