AL BARAKA MAHANA AMDANI TERM DEPOSIT 2022
Short-term Investments with Baraka of High Yield Returns
Al Baraka now offers another high yielding variant of Term Deposit, Mahana Amdani Term Deposit 2022 specially introduced for rate savvy depositors that offers short term benefits to customers on their savings. Now you can invest your funds to add Baraka by earning higher returns with convenience.
- • Available in PKR only.
- • Minimum investment of PKR 100,000/- with no upper limit.
- • Tenure: 1 Year
- • Profit Payment will be on monthly & maturity basis.
- • Early redemption can be possible before the term completion as per last completed tenure.
- • No auto rollover facility is available.
- • Individuals (18+)
- • Sole Proprietors
- • Partnerships
- • Companies
- • Clubs / Societies / Associations / Trusts
Al Baraka 1 Year Mahana Amdani Term Deposit 2022 is based on the Islamic concept of Mudarabah, a form of partnership, in which depositors act as Rab-al-Maal (Capital Provider) whereas bank acts as Mudarib (Expertise Provider). Bank invests these funds in a pool from which financings are given to various sectors such as Corporate, SME, Consumer, etc. on the Islamic principles of sale, partnership and lease. The profit arising from such financings is shared between depositors and bank as per the agreed ratio.