Saving Accounts

This account type shares in the distribution of profits when realized and the funds can be deposited or withdrawn at will without prior notice.  Funds from customers are pooled under this account without a stated maturity and are invested according to the Sharia’a principles. Customers authorize the Bank to invest the funds deposited on Mudaraba basis ("Mudaraba" contract). Realized profits or losses are shared between the Investors and the Bank according to a certain percentage specified in the Mudaraba contract.

 Key Facts Statement

Features
  • Ability to deposit or withdraw funds at any time
  • Available in LBP, USD and EUR currencies
  • No monthly or yearly fees on account
    • Semi-annual profit distribution at the end of June and December
  • SMS alerts for major transactions
Conditions
  •  Valid ID or Passport
  • Must be at least 18 years old
  • Minors can open accounts through a legal custodian
  • Minimum deposit  condition applies
    • Compliance with local and international laws and FATCA regulations

 

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