Corporate Banking Accounts – Al Masraf

Corporate Banking Accounts

Corporate Banking Accounts

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Looking for ultimate care for your business? Al Masraf Islamic Banking Corporate Account offers personalized service with a dedicated relationship manager for businesses maintaining a minimum average balance of AED 25,000
The Current Account provides a flexible and simple way to start corporate banking relationship with Al Masraf Islamic Banking.

Our Current Account is a Shari’a compliant account service, operating under the Shari’a principle of ‘Qard Hassan’.
This account offers no return to the depositor apart from the Banks’ guarantee of the principle amount. The depositor can withdraw funds at any time without notice – that is “on demand”.

It offers you the flexibility of unlimited transactions, along with a host of other benefits. You can be assured of the convenience of day-to-day financial services and the peace of mind knowing that your money is placed and managed in a Sharia’h Compliant manner.

Features and Benefits

Dedicated Relationship Manager

A dedicated, professional Relationship Manager that will help you manage your account and your day to day business needs. Our Relationship Manager will also help you plan your financial needs and perform your transactions in a highly organized manner.

Transactional Banking Services

Enjoy our wide range of transactional services at very competitive prices, and exclusive special discounts. These services include:

  •  Foreign currency exchange
  • Remittances (Manager’s Cheques, Demand Drafts and Telex Transfers)
  • Payment Orders
  • Cash Management
  • Standing Instructions
  • Trade finance

Chequebook

Available in AED, you can purchase an unlimited number of personalized chequebooks on your corporate account
Standing Instructions: Standing Instructions help manage your time by automatically making payments for regular transactions (such as bill payments, transfers, donations or installments) on your chosen dates.

Supporting your business around the clock

  • Al Masraf Internet Banking
  • Phone Banking/SMS Banking

Corporate Debit Card

We provide secure, instant access to your account at any ATM or retail outlets. You can check balances, withdraw cash, pay bills, and transfer funds within your Al Masraf accounts for free at over all ATMs across the UAE (charges apply when you use other bank ATMs locally and worldwide). Note: Corporate Debit card will be provided if applicable.

Account Statements

To help manage your account better, your account statements are also sent to you by postal mail on a monthly basis.

Documentation

  • Application form
  • Trade License copy
  • Commercial Registration
  • Memorandum of Association
  • Passport copy of Sponsor
  • Passport copy of directors/shareholders with Visa pages of signing authorities
  • Emirates ID of Directors/Shareholders/Signatories
  • If the Memorandum of Association does not cover opening and managing powers, then a Board of Resolution is required to be provided authorizing such powers, duly attested by concerned authorities
  • Valid Passport with residence visa page for Expatriates/Emirates ID

Mudaraba Short Term Deposit is a profit bearing Shari’a compliant product offered to Corporate & SME banking Customers. The account based on Islamic principle of unrestricted ‘Mudaraba’. This exclusive product is unique in the sense that it is a kind of current account which incurs profit.

Whom does it benefit? Mudaraba Short Term deposit is ideally suitable for corporate customers who have frequent transactions and follow a pattern. Like in other Mudaraba deposit products, the depositor acts as the Capital Supplier (Rab Al Mal) ‘’the customer’’ of the investment and the Bank acts as the investor (Mudarib).

Here, expected profit is calculated and disbursed on monthly average balance which exceeds minimum deposit requirements where profits are calculated daily and credited to your account on a monthly basis.

Features and Benefits

A Minimum deposit amount of AED 100,000.
Profit is payable on monthly basis based on a minimum average balance of AED 100,000 per month.
Competitive Profit Rates as per the current market benchmarks.

Notes:

  • No Chequebook for this Account
  • No overdraft facility for this account

Dedicated Relationship Manager

A dedicated, professional Relationship Manager that will help you manage your account and your day to day business needs. Our Relationship Manager will also help you plan your financial needs and perform your transactions in a highly organized manner.

Supporting your needs around the clock

Al Masraf Internet Banking Phone Banking SMS Banking

Account Statements

To help manage your account better, your account statements are also sent to you by postal mail on a monthly basis

Documentation

  • Application form
  • Trade License copy
  • Commercial Registration
  • Memorandum of Association
  • Passport copy of Sponsor
  • Passport copy of directors/shareholders with Visa pages of signing authorities
  • Emirates ID of Directors/Shareholders/Signatories
  • If the Memorandum of Association does not cover opening and managing powers, then a Board of Resolution is required to be provided authorizing such powers, duly attested by concerned authorities
  • Valid Passport with residence visa page for Expatriates/Emirates ID

Looking for a flexible investment option? Al Masraf Mudaraba Investment Account lets you invest your funds with us for a fixed period of time. Upon completion of the period, the amount is reinvested and you can choose to either transfer the distributed profit to an account specified by you or add up the distributed profits and the actual amount and invest it again.

Mudaraba Term Investment Account is Shari’a compliant investment deposit scheme designed to make your investments grow with market-competitive profit rates. It operates under an unrestricted ‘Mudaraba’ Principle.

Like in other Mudaraba deposit products, the depositor acts as the Capital Supplier (Rab Al Mal) of the investment and the Bank acts as the investor (Mudarib), where the customer share profits and bears losses as stipulated in the Mudaraba Investment Agreement.

Features and Benefits

  • A Minimum deposit amount of AED 20,000
  • A Higher expected Profit Rate
  • A higher profit rate is expected for Mudaraba Investment Account holders (compared to a regular Savings Account).
  • Auto Renewal Facility
  • Premature encashment is allowed (Subject to Terms and Conditions)
  • Available in UAE Dirhams and USD
  • Flexible Investment Period: You can choose to invest with us and claim profits every One, Three, Six, Nine or Twelve months.
  • Financing Option You can avail of any of Al Masraf Islamic Banking financing option equivalent to the amount you have invested with us

Supporting your needs around the clock

  • Al Masraf Internet Banking
  • Phone Banking
  • SMS Banking

Eligibility

  • Minimum investment equivalent to AED 20,000
  • Current or Savings account with Al Masraf is mandatory.

Documentation

  • Application form
  • Mudaraba General Investment Agreement
  • Trade License copy
  • Commercial Registration
  • Memorandum of Association
  • Passport copy of Sponsor
  • Passport copy of directors/shareholders with Visa pages of signing authorities
  • Emirates ID of Directors/Shareholders/Signatories
  • If the Memorandum of Association does not cover opening and managing powers, then a Board of Resolution is required to be provided authorizing such powers, duly attested by concerned authorities
  • Valid Passport with residence visa page for Expatriates/Emirates ID

For companies 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.

Eligibility

  • Minimum investment equivalent to AED 10,000
  • Available to all company types: SMEs, Commercial and Corporate Banking Customers.

Documentation

  • Original valid passport
  • Residence visa for signatory
  • Master Wakala Agreement Form
  • Offer and Acceptance Letter
  • Trade License copy
  • Commercial Registration
  • Memorandum of Association
  • Passport copy of Sponsor
  • Passport copy of directors/shareholders with Visa pages of signing authorities
  • Emirates ID of Directors/Shareholders/Signatories
  • If the Memorandum of Association does not cover opening and managing powers, then a Board of Resolution is required to be provided authorizing such powers, duly attested by concerned authorities
  • Valid Passport with residence visa page for Expatriates/Emirates ID

Security Notice

  1. Please do not share your user ID and Passwords with anybody. Keep it totally Confidential
  2. Please Keep your Passwords Complex and change them regularly
  3. Please do not share your Debit/ATM card or Credit card password with anybody. Keep it totally Confidential
  4. Never respond to any Email or SMS asking for your User ID, Passwords, Credit / ATM Card information or any other information. If you receive any, report to us
  5. For using Al Masraf Online Banking, Ensure you type www.almasraf.ae and avoid following any links received via e-mail, SMS, etc.
  6. Ensure your personal, identification and contact details are up to date in our bank records
  7. Ensure to log off immediately once you have finished using your online banking.

إشعار امني

  1. يرجى عدم مشاركة معرف المستخدم وكلمات المرور مع أي شخص. ابقها سرية تماماً
  2. يرجى أن تختار كلمات مرور معقدة مع الحرص على تغييرها بانتظام
  3. يرجى عدم مشاركة كلمة المرور لبطاقة الايداع / بطاقة الصراف الآلي أو بطاقة الائتمان الخاصة بك مع أي شخص. ابقها سرية تماماً
  4. لا ترد أبدا على أي رسالة بريد إلكتروني أو رسالة قصيرة تطلب منك الإفصاح عن هوية المستخدم الخاص بك أو كلمات المرور أو معلومات بطاقة الائتمان/الصراف الآلي أو أي معلومات أخرى. إذا تلقيت أي من الرسائل المشار إليها أعلاه، يرجى منك أن تبلغنا بذلك
  5. لاستخدام خدمات " المصرف " عبر الإنترنت، تأكد www.almasraf.ae و تجنب اتباع أي روابط ترِدُك عبر البريد الإلكتروني أو الرسائل القصيرة أو غيرها
  6. تأكد من أن معلوماتك الشخصية والتعريفية وتفاصيل الاتصال بك المصرح بها في سجلاتنا المصرفية محدثة
  7. تأكد من تسجيل خروجك فورا بعد الانتهاء من استخدام الخدمات المصرفية عبر الإنترنت.

نصائح أمنية لاستخدام الخدمات المصرفية عبر الإنترنت

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