 In this module, we shall continue with some practical issues in profit sharing investment accounts. In the previous segment or module, we answered question number one, which was, is it permissible to open a profit sharing investment account with a conventional bank? And question number two for this module is, is it permissible for a bank, Islamic or otherwise, to change the profit sharing ratio unilaterally? We shall attempt to answer this question in this module. So, the question, is it permissible for a bank, whether this is Islamic or conventional, to change the profit sharing ratio unilaterally? Let us answer this question systematically. We have been stating in the context of Mudarabah that a profit distribution ratio should be agreed between the Rabbulmal, i.e., the party providing capital and the other party doing the business. And once this profit distribution ratio has been agreed between the two parties, it cannot be changed unilaterally. So, the question is about this bank, which is actually a Mudarabah. Can the Mudarabah change the profit distribution ratio unilaterally once it has already been announced and agreed by all the parties concerned? Now, the word unilaterally is very important. Of course, unilaterally by one party without getting the consent of the other party, profit distribution ratio cannot be changed by any party. It cannot be changed by the Rabbulmal. And of course, it cannot be changed by the Mudarabah. However, we observe that Islamic banks keep on changing the profit distribution ratio on their profit sharing investment accounts. Is it true? And if it is true, is it permissible? To answer this question, we have to look into the practice of Islamic banks very carefully. It is correct that profit sharing ratio in Mudarabah cannot be changed unilaterally. However, it is allowed to agree on a new profit sharing ratio mutually with mutual consent. Islamic banks can also change profit ratio with the consent of the profit sharing investment account holders. Now, the question arises, what is the consent in this respect and how does it happen? Now, whenever a bank wishes to change the profit distribution ratio, which is also commonly known as rate change, so whenever it wants to go for a rate change, the first step is to have a meeting with the Sharia Advisory Committee or Sharia Board of the Bank. So the management, the concerned members of the management, they have a meeting with the Sharia Board of the Bank and present the case for a rate change. If Sharia Committee is agreeable and they would be agreeable only if it is in compliance with Sharia, a rate change is proposed. This rate change is proposed publicly. Of course, in case of profit sharing investment accounts, there are thousands and thousands, if not millions of the account holders. So it is impossible for a bank to visit the Mudarips, in this case the account holders, one by one. So a public mechanism is used. This could be in the form of an announcement on the website of the bank. The rate change is announced through public notices in the bank branches. It can be in the form of letters, poster letters. It could be in the form of emails and in some cases it could be in the form of text messages as well. So once this information is conveyed to the profit sharing investment accounts, this is deemed as offer to change the rate or profit distribution ratio. If the profit sharing investment account holders explicitly accept it, that's fine. However, given that these profit sharing investment account holders are very large in number, it is possible that the bank may not receive the explicit consent of all the profit sharing investment account holders. In that case, in the letter, in the email or in the text or whatever be the means of communication. The bank states that no response by date so and so would be deemed acceptance if the profit sharing investment account holder by that time has not already redeemed. What do we mean by redeemed, i.e. if the profit sharing investment account holder has not already closed their account? So it is possible for a bank, Islamic or conventional bank to change the profit distribution ratio once the account has already been offered and the money has come into it and the bank has started doing business. It is possible only with the mutual consent of the profit sharing investment account holders and we have explained the mechanism for getting the consent of the account holders. If all these requirements are fulfilled, there is no problem for an Islamic or conventional bank to change the profit distribution ratio which would be deemed as mutually changed profit distribution ratio.