This paper attempts to present a comprehensive framework to employ Close Ended Mutual Fund/Investment Company Model for shariah compliant financial Intermediation. Mutual Funds (MF) are an institutionalization of collective investments initiated in the U.S more than century ago. It was in the...

The expansive generalization on the assets of Islamic Banks (IB), being relatively riskier as compared to their conventional counterpart, stand justified owing to the contractual nature and the overall business model of IBs. These assets based or backed by trade (Murabaha, Salam, and Istisna) or...