Falah Foreign Currency Current Account enables you to derive maximum benefits from your foreign currency deposits. Based upon Qard, (loan on demand) where you are the lender and Bank the borrower, this Foreign Currency Current Account is free of interest and the principle is guaranteed to you, the depositor. You can be rest assured that your funds will be utilized in strict adherence to Shariah principles, as all deposits are allocated in a specific pool of funds which are further invested in Islamic assets. The Account is governed by rules & regulations on Foreign Currency Account issued from time to time by State Bank of Pakistan and Government of Pakistan.
- Account can be opened in US Dollar, Pound Sterling or Euro currency.
- Minimum initial deposit requirement for account opening is 100/- (USD, GBP or EURO).
- No minimum and maximum balance limit.
- No restriction on deposit and withdrawal transactions.
- Free cheque books.
- Complimentary account statement semi-annually.
- Free E-statements
- SMS alerts on every transaction (charges as per SOC)
Note: All the free services are subject to the terms and conditions as per prevailing Schedule of Charges