Deposit in Raast FCY Savings Account are accepted on Musharakah basis (Profit & Loss) strictly in conformity with the principles of Islamic Shariah. The deposits received in Raast FCY Savings Account are invested in Islamic assets like Murabaha, Ijarah, Diminishing Musharaka or Islamic Sukuks etc which are duly approved by Shariah Board. The Raast FCY Savings account opening facility is available in all A.D Branches (Authorize Dealer of Foreign Currency) of Islamic.
- Initial Deposit Requirement for account opening is USD (100), GBP (100), EURO (100)
- Acceptable Currency is USD, GBP and EURO.
- Profit Calculation is on monthly average balance.
- Profit shall be credited on monthly basis.
- No minimum balance requirement/Service charges for maintenance of account.
- No minimum balance requirement for profit applicability.
- All individual / Businesses / Corporate entities etc are eligible to open account as per F.E manual and Bank’s policy.
- For further details, visit any nearest A.D (Authorize Dealer Branches) of Islamic –BOK.
- Withholding Tax and Zakat applicable as per prevailing laws and regulations of Pakistan.
Note: Weightages will be announced before starting of each month and Profit will be declared up to seven days of subsequent month. In case of loss, loss will be bear as per investment according to rules of Musharakah. For historical profit rates please click on link https://www.bok.com.pk/islamic/profit-rates