With an expected return rate of up to 3.54% per annum, ahli Islamic is opening investment avenues for depositors with its exclusive Al Namaa Savings Account, which is designed and structured to inspire a culture of saving among its patrons and potential customers.

Through the Mudaraba based Savings Account, depositors can enjoy high profits calculated and paid on a monthly basis. As per the set protocol, the depositor (Rab-ul-Mal), investing in Al Namaa Savings Account, authorizes the Bank (Mudarib) to invest his/her funds into Sharia-compliant high net worth business avenues. The Bank has added ease and convenience to the account and made it feasible for customers with varying financial capabilities by incorporating multiple deposit tiers that caters to the different customer segments. At the same time, the account assures just weightages that are in sync with the balance maintained in the account. 

Highlighting the features of the account and the benefits accruing from the deposits, Noora Sabah Sultan – AGM, Head of Retail, ahli Islamic, commented: “The main premise behind Al Namaa is to earn highest possible profits on every Rial invested with the Bank. We want our customers to understand the potentials of their deposits to earn them profits that are commensurate with their investments. Our investment tiers are weightage-based and the same is distributed on a monthly basis, with payment assured on average balance maintained.”

According to Yousuf Al Rawahi, DGM and Head of ahli Islamic, “this account is, literally, a call for investors to gain extra mileage with their deposits. We have, through our various products and services, encouraged our customers to save and prosper, both personally and professionally. With Al Namaa Savings Account, we are taking that initiative a step further by offering high profit generating deposit product. While our loyal patrons are buoyed by the prospect of enhancing their investments by simply depositing their incomes, we would also like to urge all new customers to recognise the potential of this account to grow their savings without any hassles,”.

Among a host of other services and facilities, Al Namaa Savings Account holders are assured of flexible ATM withdrawals, free internet banking, mobile banking, and SMS alert, in addition to debit cards and chequebooks. Customers will also have immediate access to funds with no minimum/maximum investment period, and high-profit weightages based on deposit tiers; they will have a day-to-day checking account, which offers the flexibility of unlimited transactions through ATM/Debit Card and chequebooks .

“It is a Shari’a compliant capital investment, with profit calculated on a monthly average balance and distributed monthly. Besides, it will ensure cash management 24 hours a day with simple E-Banking, Mobile Banking, ahliconnect, ahli islamic branches, or via Visa Debit card”.

Recently, Al Namaa Savings Account was part of ahli islamic’s referral campaign that offered account holders exciting financial incentives for their role in referring friends, family members, or acquaintances to the Bank’s growing customer base. While the campaign’s success demonstrated the changing local banking horizon, it primarily reflected ahli islamic’s intent to open newer channels for investment and saving among its customers.