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.
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.
Frequently Asked Questions
How do I sign up for Online Banking?
All you need to do is visit the Online Banking page through www.sib.ae and register as a new user of a retail account. You should have your card or account number and verification code ready to create your user ID and complete the process.
Can I make online purchases with my Debit Card?
Yes, online shopping with your Sharjah Islamic Bank Debit Card is easy, convenient and safe. Take all the necessary precautions while purchasing items on the Internet and shop only with reputable and widely trusted outlets.
What do I need to open a savings account?
After you’ve submitted your online application form, you will be required to bring your original passport and UAE national ID card to your branch, along with a valid UAE residence visa if you’re an expat. You must be over 18 years of age to apply and have a minimum balance of AED 3,000 in your account.
What is Takaful?
The Group Credit Life Takaful is an Islamic insurance scheme that protects your loved ones by covering your liabilities with Sharjah Islamic Bank in the event of death or Permanent Total Disability (PTD).
How can we help you?
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