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Account purpose
The Social Affairs Mudaraba Savings Account is designed for individuals or families who want to set aside a flexible savings pattern to cater for an upcoming social event. It gives the customer ample time to plan for such events in a manner that aligns with their routine income-generating capacities.
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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
