Falah Foreign Currency Savings AccountFalah Foreign Currency Savings Account

Falah Foreign Currency Savings Account

Falah Foreign Currency Savings Account enables you to earn Riba free returns on your foreign currency deposits.


Features

  • 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 for profit eligibility
  • No restriction on deposit and withdrawal transactions
  • Profit is calculated on average balance of the month and paid semi-annually
  • Single tier account

Benefits

  • Free cheque books*
  • Complimentary account statement semi-annually
  • Free E-statements
  • SMS alert on every transaction (charges as per SOC)

* All the free services are subject to the terms and conditions as per prevailing Schedule of Charges

It is a profit bearing deposit account designed on the foundation of ‘Mudarabah’, where Bank is the ‘Mudarib’ (manager of the funds) and you, the customer is the ‘Rabb-ul-Maal’ (owner of funds). Bank at its discretion, use or employ your deposited funds in Shari’ah compliant modes such as Ijarah, Murabaha and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit sharing ratio. The rate of return on your deposit will be determined through a Shari’ah approved mechanism called weightages, which are announced before the beginning of each calendar month and shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss proportionate to their investment.

Apply Now Or you can apply for Falah Foreign Currency Savings Account at the branch.
Reach someone helpful 24/7111-225-111
alfalah