Regulations for opening the local currency investment deposit

• In all its dealings, the Bank adheres to the provisions of Islamic Sharia
• Investments are made based on absolute speculation (absolute Mudaraba).
• The depositor agrees to mix his money with the money of the bank and the money of other depositors.
• The investor is given a private investment deposit book.
• The term of the deposit is for a full year, starting from the first of January of each year.
• The minimum investment deposit is ten thousand pounds (10,000 SDP).
• It is allowed to accept deposits in the depositor’s account from any person other than the owner of the deposit by presenting proof of identity.
• Restriction not to withdraw during the year.
• What God grants from halal profit is distributed annually.
• Profits are granted every three months on the basis of the expected profits and added to a current or savings account.
• The profit is distributed between the bank (the Mudarib) and the investors who are the owners of money at the rate of 20% for the bank and 80% for the investors, and the share of the investors is distributed among them in the proportion of a deposit for each of them.
• If a loss arises without infringement or negligence on the part of the bank, the Mudaraba capital shall bear that loss.
• The investment deposit book must be presented to the bank upon deposit or withdrawal upon liquidation.
• It is not allowed to extract any Debit card to withdraw from the deposit.
• The owner of the deposit may not assign the book or transfer it to another person.
• No change in the ledger data is accepted unless it is supported by the signature of the responsible employee and the seal of the bank.
• In the event of losing the book, the bank must be notified immediately, and the matter is reported to the police authorities to take the necessary measures.
• The Bank is committed to complete confidentiality in dealings with customers, except to the extent required by the laws in force in the country.