Al Masraf Islamic 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”.

Features and Benefits

• Available in AED, USD, EUR & GBP
• Free First Cheque Book
• Free Teller Transactions
• Free Online Banking Channels
• Free Phone Banking
• Free ATM/Debit Card
• Free Monthly / Quarterly Statements

Eligibility

• Minimum monthly Salary / Income of AED 20,000
• Minimum Initial amount to open the account AED 10,000
• UAE nationals and UAE residence visa holders
• Must be aged 21 or above

Documentation

• Valid Passport with residence visa page for Expatriates/Emirates ID.
• For Joint Accounts, please bring all original passports and valid company documents (all account holders should also be present)

Al Masraf Islamic Banking Savings Account is Shari’a compliant saving scheme operating under the Shari’a principle of ‘Mudaraba’ where the customer share profits and bear losses as stipulated in the Mudaraba Investment Agreement.
This scheme is designed to generate your regular earnings through very competitive profit rates, without limiting your banking transactions.

Features and Benefits

• Expected Monthly Profits are calculated on daily basis and credited to your account monthly. Please note that you need to maintain a minimum monthly balance of AED 3,000 to be eligible to earn profit.
• Available in AED, USD, EUR & GBP
• Free online banking channels
• Free phone banking
• Free ATM/Debit card
• Free first six teller transactions
• Free account statement (Every six months)

Eligibility

• Minimum monthly Salary / Income of AED 20,000
• Minimum Initial amount to open the account AED 3,000
• UAE nationals and UAE residence visa holders
• Non-residents on a visit visa or transit visa
• Must be aged 21 or above

Documentation

• Application form
• Mudaraba General Investment Agreement with Terms and Conditions
• Valid Passport with residence visa page for Expatriates/Emirates ID.
• Non-residents on a visit or transit visa
• For Joint Accounts, please bring all original passports and valid company documents (all account holders should also be present

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 10,000
• 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 10,000
• Current or Savings account with Al Masraf is mandatory

Documentation

• Application form
• Mudaraba General Investment Agreement with Terms and Conditions
• Passport/Labor Card in original for id verification
• For Joint Accounts, please bring all original passports and valid company documents (all account holders should also be present

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.

Eligibility

• Minimum investment equivalent to AED 100,000
• Available to all High Net Worth individuals

Documentation

• 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