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Account purpose
The Account is designed to meet the savings needs of Parents who want to better prepare for their children’s education. The product ensures that the parents are encouraged to adopt a savings culture at the personal level to better prepare for their children’s future educational careers.
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Shariah contract applicable
This Account will operate based on the Mudarabah principle of profit sharing. It will be a partnership contract between the APS Islamic Microfinance and the Customer. The client provides funds (Rabul-Mal) and the APS Islamic Microfinance (Mudharib) does the investments in compliance with the Shariah principles. Profits will be distributed based on a pre-agreed ratio.
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Features and benefits
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Fast and easy account opening process
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The product is fully Shari’ah compliant
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Attractive Profit rate and Quarterly profit payments
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Low operating requirements
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Accessible from all Branches and Agents countrywide
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Low-risk ratings for the Customer (Rabul-Mal)
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Can be used as a security to secure a facility
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Lots of complementary services
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E-Alerts
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Internet Banking (web & Mobile app)
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Business Advisory
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Training & Coaching
