Islamic deposits refer to banking accounts that comply with Islamic Sharia principles. These deposits are offered by Islamic banks and other Islamic financial institutions. These accounts allow for the deposit of funds, with the possibility of withdrawing profits at specified time intervals. The depositor allows the bank to invest his funds based on profit-sharing or loss-bearing principles in accordance with Islamic Sharia rules. The bank has the right to manage the funds in an appropriate manner, in order to achieve common interests.

Features:

  • Islamic deposits provide high transparency regarding the nature of investments and projects in which the funds are utilized, fostering trust and ensuring fair dealings.
  • Due to the absence of riba (interest) and the cautious nature of investments associated with Islamic deposits, Islamic deposits provide a stable and secure environment for deposited funds.
  • Islamic deposits are compliant with Islamic Sharia principles.
  • Confidentiality of investment deposits, with no access granted to anyone other than the owner.
  • Available for citizens, residents, and expatriates.
  • Available in currencies (Yemeni Rial, US Dollar, Saudi Riyal, Euro, British Pound).
  • Access to financing services secured by deposit balances, in accordance with the bank's terms and conditions.
  • Higher profit rates on your investment deposit.
  • Obtain halal (permissible) returns according to Islamic Sharia principles.
  • Deposits automatically renew, unless otherwise requested.
  • Your deposit is always accessible, and you can break it at any time, according to the bank's terms and conditions.

Returns:

  • Highest profit returns on Al-Salam Capital Investment Bank's deposits.
  • Based on legitimate Mudaraba, and profit-sharing or loss-bearing principles.

Breaking the deposits:

  • Within the first year of deposit before the maturity date: The profit for the previous year will be deducted if the deposit is broken before the end of the contract period, according to the conditions set at the time of establishment.
  • Breaking or redemption after the maturity date: The net value of the deposit will be credited to your bank account.