Al Namaa Savings Account is a great investment avenue for depositors who wish to earn halal returns on their investments. By investing in the Bank’s Al Namaa Savings Account, the depositor (Rabb ul-Mal) authorizes the Bank (Mudarib) to invest his/her funds under the unrestricted Mudarabah contract. The Bank invests these deposits in its Mudaraba pool along with other deposits and the equity. The profit on the Mudarabah pool is distributed amongst investors, taking into consideration the tenor, amount of the deposit and profit payment frequency for the account.
- 100% Shari’a compliant capital investment
- High profit weightages, based on deposit tiers
- Immediate access to funds with no minimum or maximum investment period
- Day-to-day checking account which offers flexibility of unlimited transactions through ATM/Debit Card and Cheque Book
- Profit calculated on monthly average balance and distributed on monthly basis
- Cash management 24 hours a day with simple E Banking, Mobile Banking, Call Center, Ahli Islamic branches or Visa Debit/ATM Card accepted at over 30 million outlets and more than 2 million ATMs worldwide.
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