Deposit Schemes
Bank AL Habib Limited, Islamic Banking Branch, invites participation in the following deposit schemes:
- AL Habib Current Accounts
- AL Habib Saving Accounts
- AL Habib Term Deposits
The above deposit schemes are based on the Islamic Shariah principles and have been approved by our qualified and experienced Shariah Advisor.
a) AL Habib Current Accounts
- It is non-profit earning account with cheque book facility.
- ATM, Debit Card and Online Banking facilities are available.
- Funds will be used for investments and providing finances to trade and industries on fully Shariah compliant basis.
- Regularly reviewed by qualified and experienced Shariah Advisor.
b) AL Habib Saving Accounts
- Based on Islamic principles of Musharakah / Mudarabah.
- Profits and Losses to be shared as per prescribed rules.
- Profits to be paid every six month in January and July.
- Profit to be calculated on the basis of weightages, to be announced at periodic intervals.
- ATM, Debit Cards and Online Banking facilities are available.
- Funds will be used for investments and providing finances to trade and industries on fully Shariah compliant basis.
- Regularly reviewed by our qualified and experienced Shariah Advisor.
c) AL Habib Term Deposits
- Based on Islamic principles of Musharakah / Mudarabah.
- Available in tenures of 3 months, 6 months, 1 year, 3 years and 5 years.
- Profit to be paid periodically or on maturity as per rules.
- Profit to be shared according to a system of weightages, to be announced at periodic intervals.
- Funds will be used for investments and providing finances to trade and industries on fully Shariah compliant basis.
- Regularly reviewed by our qualified and experienced Shariah Advisor.