AL BARAKA MUDARABAH PREMIUM PLUS
This product is designed for those business / corporate customers who are looking for higher profits.
- • Available only in Pak Rupees only.
- • Minimum initial investment of PKR 10,000/-
- • Unlimited deposits and withdrawals.
- • Slab based profit entitlement where customers will get higher profits on higher balances.
- • Profit is calculated on daily balance and paid on monthly basis.
- • 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, Inter-city Clearing, etc. as per prevailing Bank’s Schedule of Charges.
- • Companies
- • Clubs
- • Societies
- • Associations & Trust
Mahana Baraka Account 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.