Based on the Wadi’a contract, the Dubai Islamic Current Account offers users safe keeping of their cash deposits against DIBPL’s guarantee to provide the depositor his funds on demand. However, the depositor permits DIBPL to use or invest his money in its Sharia compliant investments and is neither entitled to investment profit nor does the account holder bear any risk of loss.
The Current Account is offered in the following currencies:
- Pak Rupees
- US Dollar
- UK Pound
- UAE Dirham
All entities including individuals, corporations, firms, societies, clubs, government organizations, statutory bodies, public and private institutions can open a Dubai Islamic Current Account with as low as PKR 1000.
In case of Foreign Currency Current Accounts, please contact your nearest branch or call 111-786-342.
Features of the Current Account
- Unlimited number of deposits and withdrawals (subject to sufficient credit balance, and the regulatory restrictions applicable to Foreign Currency Account).
- No minimum balance restriction.
- Low transaction charges.
- Standing instructions option for payment of bills (utilities) and other periodical payments.
- Free account statement on a six monthly basis.
- Entitlement to Silver or Gold ATM/VISA Debit Card (applicable for Pak Rupees account only).
- Free access to Dubai Islamic Internet Banking offering a comprehensive range of services.
- Free access to Dubai Islamic Phone Banking offering 24/7 tele-banking services.
- Free online banking allows account access at all Dubai Islamic branches across Pakistan.
- Enjoy Dubai Lounge Priority Banking services on meeting the balance requirements (as mentioned in the Schedule of Bank Charges) and enjoy a host of exclusive privileges.
Deposit Protection Mechanism
State Bank of Pakistan recently launched “Deposit Protection Mechanism for Banking Companies*” vide DPC Circular No.4 of 2018 dated June 22, 2018, which is effective from July 01, 2018.
Kindly note that as per Section 7(1) of the Deposit Protection Corporation Act, 2016, an amount up to Rs. 250,000/- (Rupees Two Hundred and Fifty Thousand) per depositor has been determined by DPC as the guarantee amount, which is subject to change from time to time.
For more details, please visit us at any Dubai Islamic Bank PK branch or Call US 111-786-DIB(342)
*Terms and Conditions apply