Stakeholder | Baitulmal




The Stakeholder Crowdfunding

1. What is a Stakeholder ?

An Advocate and Solicitor having in their possession money or property in which they have no interest, right or title, awaiting the outcome of a settlement between two or more claimants to the money or property. The stakeholder has a duty to deliver to the owner or owners the money or assets once the right to legal possession is established by judgment or agreement.

2. The Malaysian Bar Council Rulings on Stakeholder

14.10. Stakeholder

14.10 (2) Fee for acting as stakeholder

A Solicitor is entitled to charge a fair and reasonable fee for acting as a stakeholder.

14.10 (3) Terms of stakeholding to be strictly adhered to

A Solicitor acting as stakeholder for 2 or more parties must strictly adhere to the terms of the stakeholding at all times. No money or document held by a Solicitor as stakeholder shall be released, utilised, applied or otherwise dealt with by such Solicitor except in accordance with the terms of the stakeholding or with the express written consent of all relevant parties.

3.The System for Stakeholder Crowdfunding

4. What is a Client Account?

Cambridge Dictionary

client account
noun [ C ]

Banking a bank account that a person, business, or organization keeps for a customer in order to keep the customer's money separate from their own:

Solicitors have a duty to account to their clients for interest earned by placing such monies in a solicitor's client account.