Wakala Deposit Account
Looking for a secure, Sharia’a-compliant way to grow your savings?
Our Customer Wakala Deposit offers you the opportunity to invest your funds through a trusted Islamic financial institution, where your money is managed with transparency, integrity, and in full compliance with Sharia’a principles.
Available to customers of Sharjah Islamic Bank i.e. Individuals and Government organizations
Minimum Deposit amount of AED 1,000,000 or equivalent in other currencies such as USD, GBP & EUR
Exclusive features
Warning: 1- If you break the deposit before the original maturity date, you may lose the partial or full applicable profit on the deposit 2- If your deposit is linked with other finance(s) and you do not keep the payments on time then; the bank shall have the right, at any time and without permission from you, to liquidate any of your deposit accounts, to recover the finance liability, any installment(s) or any amount due towards the bank if the balances of the deposit accounts are of the same currency; however, if they are different currencies, the settlement shall be based on the prevailing exchange rate at that time. |
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To apply
Required documents
- Customer Wakala Deposit application form and agreements
- Original passport
- Original Emirates ID
- Valid UAE residence visa
Eligibility
- Applicant must hold a current, saving or call account with Sharjah Islamic Bank
- Applicable for UAE residents and non-residents
- Salaried and Non-salaried applicants
- Minors are eligible, but Account must be opened and operated by parent or court appointed guardian
Safety and convenience guaranteed.
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