Albaraka Bank Savings Account

Al Baraka Savings Account comprises of all facets of an investment i.e. income, security and growth. It has been developed to suit the requirements of individuals and business entities.

Salient Features

Available in PKR and other major currencies like USD, GBP, EURO & AED
Free from any minimum balance charges
Profit is calculated on monthly and bi-annually basis
Profit will be paid every month
Unlimited deposits and withdrawals
Enjoy higher profits on higher balances
Free ATM card with unlimited access to ATM Network, nationwide
Additional benefits such as e-Statement, 24/7 Phone Banking, SMS Banking

Islamic Concept

Al Baraka saving account 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.

Eligibility criteria

Individuals (18years & above)
Sole Proprietor
Partnerships
Companies
Clubs / Societies / Associations / Trust

For more information, kindly visit our branch or call us on 111-113-442