Time Deposit Accounts

This is an investment account in which funds are accepted as term deposits with different maturities.  Funds in the Time Deposit accounts are invested at the customer’s request for a minimum of six months with monthly or semi-annually profits.  In Time Deposit accounts, funds are pooled according to a profit and loss sharing Mudaraba contract.  Funds cannot be withdrawn before the stated and agreed upon maturity date.

Key Facts Statement

6 or 12 Months Time Deposit with Monthly Profits
Features
  • Time Deposits blocked over 6 or 12 months with monthly profits
  • Available in currencies: LBP or USD
  • Monthly Profit distribution
  • SMS alerts for certain transactions

 

Conditions
  •  Valid ID or Passport
  • Must be at least 18 years old
  • Minors can open accounts through a legal custodian
  • Minimum investment: LBP 4,500,000 or $3,000
  • Automatically renewed unless instructed by the customer before 15 days of maturity
  • Partial or full withdrawal of the deposit before the end of term is possible upon receiving a written request, and is subject to Management approval. Certain conditions on distributed profits apply
6 or 12 Months Time Deposit
Features
  • Time Deposits blocked over 6 or 12 months
  • Available in LBP, USD and EUR currencies
  • Semi-annual profit distribution at the end of June and December
  • SMS alerts for certain transactions

 

Conditions
  •  Valid ID or Passport
  • Must be at least 18 years old
  • Minors can open accounts through a legal custodian
  • Minimum investment: LBP5,000,000, $5,000 or €5,000

 


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