This account type shares in the distribution of profits when realized and the funds can be deposited or withdrawn at will without prior notice. Funds from customers are pooled under this account without a stated maturity and are invested according to the Sharia’a principles. Customers authorize the Bank to invest the funds deposited on Mudaraba basis ("Mudaraba" contract). Realized profits or losses are shared between the Investors and the Bank according to a certain percentage specified in the Mudaraba contract.
Key Facts Statement