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Wadiah Current Account

Wadiah Current Account

The Wadiah Current Account is a current account that operates according to Shariah principles. It provides a safe and guaranteed banking facility whereby customer deposit is payable on demand. The Wadiah agreement is based on the contract Al-Wadiah Yad-Dhamanah (Guarantee) between the depositor and the entrusted party, which is Ghazanfar Bank Islamic Banking Window, as the trustee.


Features

  • An initial deposit of AFN 50,000 is required for Individuals and Sole Proprietors. For other applicants, an initial deposit of AFN 100,000 is required.
  • An introducer is needed to open an account, except for existing customers or waiver from the Branch Manager.
  • Customer can enjoy an interest-free temporary overdraft subject to the Branch Manager’s approval. No fixed deposit interest can be deposited into the Wadiah Current Account.

Benefits of Wadiah Current Account

Fully Guaranteed
Customers deposits are fully guaranteed from any risk or loss and managing the Wadiah Current Account is as easy as any other current account.

Accessible
Customer will be given a cheque book and an ID Card to facilitate any payment or cash withdrawal at any of our branches.

Convenient
A detailed monthly Statement of Account will be provided to assist the customer in managing his financial needs while the Standing Instruction facility will facilitate payment of any bills or other payments to suit his needs at any time convenient to him.

Eligibility

  • All individuals, must be at least 18 years old and have the capacity to contract.
  • Corporations and Business enterprises.
  • Sole Proprietorships and Partnerships.
  • Clubs, societies and associations.
  • Other organisations whose operations are not contradictory to Shariah principles and Afghanistan law.

How to Apply

  • Individual: Copy of Taskara
  • Sole proprietor: Copy of Business License and Taskara
  • Company: Memorandum & Articles of Association, Business License and Taskaras of Chairman, Vice-Chairman.
  • Clubs, Societies & Associations: Original Certificates of Registration.

All applications are subject to the Bank’s terms and conditions.

 

 
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Three new branches in Pul-e-Khomri, Kundoz and Jalalabad
Saturday 2nd, Jan. 2010

Ghazanfar Bank launched 3 new branch offices in Pul-e-Khomri, Kundoz and Jalalabad. We continue opening new branches to cover all over Afghanistan. Please stay tuned for annoucements of new branches.