For Customers who want a periodic, stable income coupled with steady capital appreciation, our Wakala Investment deposit provides the ideal platform and opportunity. This unique deposit scheme offers different maturities structured to allow investors to benefit from a constant and steady source of income, and full invested amount with the profit will be paid at maturity and it based on Wakala Investment method.
Wakala Investment where the customer ‘’the investor’’ (Muwakkil) appoint us, Al Masraf Islamic Banking, as an agent (Wakeel). We will then ensure investment of your funds in Shari’a compliant transactions with constant close monitoring by our team of specialists. Based on “Wakala”, the Bank (Wakeel) will use your investment fund for its general corporate purposes to achieve an agreed profit rate for you.
You will not be able to terminate the agreement, add or withdraw funds before the maturity date. (Subject to prior approval and banks terms and conditions)
Features and Benefits
- A Minimum deposit amount of AED 100,000 or its equivalent in any other currency. (depending on the currency exchange rate on the date of the deposit)
- Competitive Profit Rates: earn high returns on your investments with peace of mind
- Flexible deposit terms ranging from 1, 3, 6, 9, 12 and 24 months
- Market Competitive Profits are paid on maturity date of each deposit.
- Minimum investment equivalent to AED 100,000
- Available to all High Net Worth individuals
- Original valid passport
- Residence visa for signatory
- Master Wakala Agreement Form
- Offer and Acceptance Letter
- Constitutive documents including Trade License, Commercial registration, MOA and any subsequent amendments and POA’s, if any
- For Joint Accounts, please bring all original passports and valid company documents (all account holders should also be present