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Account purpose
The Hajj and Umra Mudaraba Savings Account is designed to meet the savings needs of an individual who wants to better prepare for Hajj or Umra. The product ensures that individuals adopt a savings pattern that allows him/her to gradually save overtime towards the cost of performing Hajj or Umra.
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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
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