Islamic Banking Product
LAW 240 ISLAMIC BANKING PRODUCT
05/29/13
ISLAMIC BANKING PRODUCT
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05/29/13
ISLAMIC BANKING PRODUCT
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05/29/13
ISLAMIC BANKING PRODUCT
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AL-WADIAH (CURRENT A/C)
• Based on the Islamic principle of Al-Wadi'ah Yad-Dhamanah (Guaranteed Safe Custody) • Can withdraw all or part of money whenever want. • Free from Riba (Usury) and is the clear and pure way to bank. • Can be opened by an individual aged 18 years and above with the capacity to contract, or a company, organisation or society conducting activities permissible by Syariah. • An account can be closed at the request of the customer by operation of law or at the discretion of the Bank. • Both the customer and the Bank can terminate the 05/29/13 Al-Wadi'ah contract PRODUCT time. 4 ISLAMIC BANKING at any
AL-WADIAH (SAVINGS A/C)
• A contract between the depositor and the bank • The purpose of which is to protect savings from loss, theft, destruction, etc. • Guarantee the safekeeping of deposits and will repay the whole deposit or any part of the outstanding balance upon request. • The bank at its absolute discretion, can give part of the profits obtained in the form of reward (Hibah) to the depositor. • The individual must also be of sound mind and age 15 and above. A minor's account can be opened in the name of the parent or guardian. • An account can be closed at the request of the customer, by operation of law or at the discretion of the bank. • Both the customer and the bank can terminate the Al-Wadi'ah contract at any time.
05/29/13 ISLAMIC BANKING PRODUCT 5
AL-MUDHARABAH (GENERAL INVESTMENT A/C)
• A contract made between a depositor "the provider of capital" and the bank "the entrepreneur". • The amount deposited for a stipulated period by the depositor will be used by the bank for investment purposes according to the AlMudharabah principle. • All profits earned will be shared between the depositor and the bank. • This account is eligible to all individuals,
05/29/13
ISLAMIC BANKING PRODUCT
1
05/29/13
ISLAMIC BANKING PRODUCT
2
05/29/13
ISLAMIC BANKING PRODUCT
3
AL-WADIAH (CURRENT A/C)
• Based on the Islamic principle of Al-Wadi'ah Yad-Dhamanah (Guaranteed Safe Custody) • Can withdraw all or part of money whenever want. • Free from Riba (Usury) and is the clear and pure way to bank. • Can be opened by an individual aged 18 years and above with the capacity to contract, or a company, organisation or society conducting activities permissible by Syariah. • An account can be closed at the request of the customer by operation of law or at the discretion of the Bank. • Both the customer and the Bank can terminate the 05/29/13 Al-Wadi'ah contract PRODUCT time. 4 ISLAMIC BANKING at any
AL-WADIAH (SAVINGS A/C)
• A contract between the depositor and the bank • The purpose of which is to protect savings from loss, theft, destruction, etc. • Guarantee the safekeeping of deposits and will repay the whole deposit or any part of the outstanding balance upon request. • The bank at its absolute discretion, can give part of the profits obtained in the form of reward (Hibah) to the depositor. • The individual must also be of sound mind and age 15 and above. A minor's account can be opened in the name of the parent or guardian. • An account can be closed at the request of the customer, by operation of law or at the discretion of the bank. • Both the customer and the bank can terminate the Al-Wadi'ah contract at any time.
05/29/13 ISLAMIC BANKING PRODUCT 5
AL-MUDHARABAH (GENERAL INVESTMENT A/C)
• A contract made between a depositor "the provider of capital" and the bank "the entrepreneur". • The amount deposited for a stipulated period by the depositor will be used by the bank for investment purposes according to the AlMudharabah principle. • All profits earned will be shared between the depositor and the bank. • This account is eligible to all individuals,