Falah
Term Deposit Certificates
It is a profit bearing fixed deposit account designed
on the foundation of ‘Mudarabah’, where Bank is the ‘Mudarib’ (manager of the
funds) and you, the customer is the ‘Rabb-ul-Maal’ (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes
such as Ijarah, Murabaha and Musharakah.
Bank Alfalah Islamic Banking will share the profit on
the basis of predetermined profit sharing ratio. The rate of return on your
deposit will be determined through a Shariah approved mechanism called
weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all
depositors will share such loss proportionate to their investment.
You can place funds in this product if you are an individual or a business
entity.
Features:
·
Invest with a minimum deposit of Rs. 100,000 only
·
Available for 1 month, 3 months, 6 months, 1 year, 2
Year, 3 Year and 5 Year terms
·
No maximum deposit limit.
·
Profit is paid on maturity.
·
Rollover option available upon written intimation.
·
Multiple tiers
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