Faysal Islami Savings Account USD
Faysal Islami Savings Account provides halal returns on your savings in foreign currency along with a chance to secure your savings from currency fluctuation risk. An account that offers various benefits to fulfil your individual needs.
1.
Available in USD currency
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Digital Account Opening
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The account will be opened in 48 hours (if everything is in order)
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Islamic Savings Account opened on the basis of Mudarabah contract
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Halal returns on monthly basis based on balance maintained in account
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Debit Virtual Card for online payments
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Online banking, inter / intra bank fund transfers in Pakistan (only debit transactions will be allowed), bill payments in Pakistan and Mobile top-ups
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Repatriation of funds: Customers can withdraw their funds through transfer into any of his/her account internationally
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Account can only be credited by foreign inward remittances originating from the account holder himself/ herself through formal channels (banks or money transfer companies)
Faysal Islamic Savings Account is offered on the basis of “Mudarabah”, where Faysal Bank is the Mudarib (Manager of the Funds) and you, the customer, are the “Rabb ul Maal” (Owner of the funds). These deposits are deployed in Shariah compliant modes such as Ijarah, Murabaha and Musharakah. The rate of profit on your deposit will be determined through a Shariah approved mechanism for calculation of weightages which will be announced at the beginning of each month and shall be applicable for that month only. Faysal Islamic Savings Account will share the profit earned through financing in different modes of financing. Losses (if any) will be share in the proportion of investment by each depositor. Monthly weightages, Profit sharing ratios and actual profit displayed at Faysal Islamic banking branches as well as our website. You can also obtain it from dedicated RM.