Alfalah
Musharaka Saving Account
Alfalah Musharaka Saving Account not only gives you
return on your investments, but also makes your day to day business banking
needs extremely convenient with a host of free banking services.
It is a profit bearing 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.
Features:
·
Profit is calculated on average balance of the month
and paid every month.
·
Minimum initial deposit requirement for account
opening is Rs. 10,000 only.
·
No minimum and maximum balance limit for profit
eligibility.
·
No restriction on number of deposit or withdrawal
transactions.
·
Multiple tiers.
Benefits:
·
VISA Debit/ATM Card accepted at over 30 million
outlets and more than 2 million ATMs worldwide.
·
Free cheque books, pay orders and demand drafts.
·
Convenience of Online banking across all Bank Alfalah
Islamic branches nationwide, with no charges.
·
Free e-statements.
·
SMS alerts on every transaction.
·
Complimentary account statement semi-annually.
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