Legal Framework: Based on a Sharia-compliant agreement approved by the bank's Sharia board.
Competitive Variable Return: The interest rate is competitive and fluctuates based on market conditions.
Flexible Terms: Available for terms ranging from one week to one year.
Interest Payment Frequency: Return can be paid monthly, quarterly, semi-annually, or at maturity, depending on the customer's preference.
Minimum Deposit: EGP 1,000 or multiples thereof.
Currency: Egyptian Pound
Eligibility: Individuals and corporations.
Islamic Murabaha: Allowed up to 85% of the deposit value as collateral.
Early Withdrawal: Permitted after one month, subject to a redemption schedule
USD Time Deposits with Upfront Return Payment
Tenor: Flexible terms ranging from 1 month to 1 year.
Interest Payment: Full Return is paid upfront at the beginning of the deposit term and is adjusted according to the actual number of days the funds are held.
Minimum Deposit: $5,000 USD or incremental of $1,000 USD.
Currency: US Dollar
Eligibility: Individuals and corporations.
Islamic Murabaha: Allowed using the deposit as collateral.
Early Withdrawal: Permitted after one month, with Return calculated based on the actual number of days the funds were held. Return for the remaining term will be deducted.
Wakala Islamic Deposit with Upfront Return Payment
Eligibility: Available to both individuals and corporations.
Currency: Egyptian Pound (EGP)
Minimum Deposit: EGP 500,000 or incremental of EGP 1,000.
Flexible Terms:
1-month term with a 16% return
3-month term with a 16% return
6-month term with a 15% return
Early Withdrawal:
For 1-month and 3-month deposits, all interest is forfeited.
For 6-month deposits, 50% of the interest earned for the elapsed period is forfeited, and the remaining Return for the unexpired period is also forfeited. No additional withdrawal fees apply.
