AL BARAKA CURRENT ACCOUNT
Current Account can be opened in one of the listed currency below with no restriction in the number of withdrawal and deposits. As per the nature of the underlying contract, there will be no profit in terms of cash or in terms of kind is offered in current account. However, the free features available as Bank wide features can be part of Qard based products.
- • Available in local (PKR) and Foreign currencies (USD, GBP, EURO & AED).
- • Account can be opened with minimum denomination of 100/- (in PKR & FCY).
- • No minimum balance requirement for account maintenance.
- • Unlimited deposits and withdrawals.
- • Additional benefits such as e-Statement, 24/7 Phone Banking, Internet Banking, Mobile Banking App, etc.
- • Other facilities can be availed such as Pay Order, SMS Alerts, Hold Mail Facility, Stop Payment, Intercity Clearing, etc. as per prevailing Bank’s Schedule of Charges.
- • Individuals (18+ years)
- • Sole Proprietors
- • Partnerships
- • Companies
- • Clubs / Societies / Associations / Trusts
Al Baraka Current Account is based on the Islamic principle of Qarz, whereby the customer is the lender and the bank is the borrower. The funds may be used by the Bank at its discretion, and are payable, on demand, with neither any addition nor penalty.