AL BARAKA PKR TERM DEPOSIT
Al Baraka Term Deposit is a perfect solution for customers seeking higher profits in a Shariah compliant way which can secure their future. Our sales officers will be happy to assist you in designing an investment plan for you and for your loved ones.
- • Minimum initial investment of PKR 25,000/-.
- • Available tenures: 1 month, 3 months, 6 months, 1 - 5 years.
- • Flexible profit payment options (Quarterly or maturity).
- • Minimum initial investments are as following:
(USD: 1,000; GBP: 1,000; EURO: 1,000 & AED: 5,000)
- • Available tenures: 1 month, 3 months, 6 months and 1 year.
- • Maturity profit payment option.
- • Rollover facility along with profit convenience to withdraw earlier as per Bank’s prevailing guidelines.
- • Early redemption can be possible before the term completion as per last completed tenure (schedule attached).
- • Customer must be an accountholder to book Term Deposit.
- • Individuals (18 years & above)
- • Sole Proprietors
- • Partnerships
- • Companies
- • Clubs / Societies / Associations / Trusts
Al Baraka Term Deposit 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.