Al Baraka Business Plus
AL BARAKA BUSINESS PLUS
Al Baraka Business Plus account is the premium choice for business concerns. Customer can benefit from our dedicated team of financial advisors who can help take advantage of the services and benefits associated with this account and at the same time they will be happy to assist our customer in meeting his other requirement of business.
By opening and maintaining PKR 25,000/- or above as monthly average balance, following services will be offered for free:
- 1st Union Pay Classic Debit card
- 1st Cheque Book of 25 leaves
- Pay Orders (from respective branches only)
- Duplicate Bank Statement
- Hold Mail Facility
- Intercity Clearing
- SMS Banking
- Online Banking Transactions
- Utility bills payment through ATM
- Unlimited access to all ATMs & POS nationwide.
Profit (through nominal) will be calculated on monthly average balance and credited on monthly basis.
- Individuals (18+ years)
- Sole Proprietors
- Clubs / Societies / Associations / Trusts
SHARIAH BASIS OF AL BARAKA BUSINESS PLUS
Al Baraka Business Plus is based on the Islamic concept of Mudarabah. Under this arrangement the customer is Rab-ul-Maal (Investor) and the bank is Mudarib (Fund Manager). Customer deposit is invested in profitable business ventures which are legal and Shariah compliant. The profit/loss is shared on a pre-determined ratios. As Fund Manager, the bank is entitled to a part of the profit, whereas profit distribution amongst the depositors and shareholders is made according to the weightages assigned to their investment at the beginning of each month.