Islamic Banking Window of Ghazanfar Bank, provides great opportunity for its customers to earn Halal profit on their saving while having the flexibility to withdraw funds when required, via having Mudarabah Saving account.
The Structure is based on the principle of Mudarabah which is strictly in conformity with the rules of Islamic Sharia’h. Under this relationship, the customer is an investor (Rab-ul-Maal) and the bank is Manager ( Mudarib) of the deposited fund.
Profit Sharing Rule
- No fixed profit will be committed before or at the time of opening an Account.
- Eared profit will be divided between bank and customer based on agreed ratio
- Profit (if any) will be on the minimum balance after Banks quarter.
Latest rate announced for Mudarabah saving: 0.7 % (per Annum)
Adult individuals, singly or jointly with other adults.
- Address proof by taking taskara.
- Identification proof like passport, voter identity card, identity cards issued by employer..
- Latest photograph.
Schedule of charges
- On the closure of account before three months USD $10 will be charged and it will go to the charity Waqf fund account.
- Cheque book of 25 Leaves shall be issue free for the first time and subsequent issue shall be charged at USD 10.
- Profit amount will be transferred to the customers accounts after tax deduction.
- The minimum initial deposit should be USD 100 or equivalent
- Minimum account balance to be maintained is AFN 1000 or USD 20
The account holder will be provided unique user ID and secured password to view his account through our internet facility at a later date to be communicated to him/her. The customer can take print of account statement by using the facility.
LNo Maximum limit.
- Free cheque book for the first time
- Monthly statement
- Incompliance with Sharial rules and principles
- Internet banking