Dubai Islamic Fixed Deposit Account offers the ideal mix of long and short term benefits to depositors seeking attractive and Halal returns on their savings. With a history of high profit payouts Dubai Islamic Fixed Deposit Account is an excellent investment vehicle for depositors with excess funds.
By investing in the Dubai Islamic Fixed Deposit Account, the depositor (fund provider or Rabbul-Maal) authorizes DIBPL (fund manager or Mudarib) to invest his/her funds on the basis of unrestricted Mudaraba contract according to the principles of Sharia. DIBPL invests these funds in its Common Mudaraba Pool with other deposits and the shareholders’ equity. The profit on the Common Mudaraba Pool is distributed amongst the shareholders’ and depositors on the basis of agreed upon weightages which take into consideration the tenor, amount of deposit and profit payment frequency of the account.
Fixed Deposit placements can be made in:
- Pak Rupees
- US Dollars
Investment options are indicated below
|Tenors||Monthly Profit payment||Quarterly profit Payment||Half Yearly Profit Payment||Maturity Profit Payment|
|Tenors||Monthly profit payment||Quarterly profit payment||Maturity Profit Payment|
Features of the Fixed Deposit Account
Free access to Dubai Islamic Internet Banking gives you the convenience to easily monitor your fixed deposits
- Minimum investment amount as low as Pak Rs.100,000/- or USD 2000/-
- Available in tenors of 1, 3, 6 months or 1, 2, 3, 5 and 7 years
- Profit frequency options are monthly or quarterly, semi-annually or at maturity
- Pre-mature withdrawal shall be at the discretion of DIBPL. In case of such a premature encashment, profit shall be recalculated/adjusted on the basis of the weightage of the tier for which the deposit has remained in the Bank.
- 24/7 Call Center with complete Tele-banking services
- Acceptable as Collateral for other Banking Facilities
- Profit sharing on Mudaraba basis within the Common Mudaraba Pool with weightage points allocated on the basis of tenor, amount of deposit and profit payment frequency
- In case of loss Account Holder bears the loss in proportion to his/her investment in the Mudaraba Pool
Account Holder can give instructions for re-investment or roll-over of deposit for the next applicable period at the time of the booking
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
Investing couldn’t be easier
- Visit any DIBPL branch and open a checking account (current or savings). Don’t forget to apply for your VISA debit card, Internet banking and Phone Banking to enjoy 24/7 access to your funds.
- Once your checking account is opened, you can place a fixed deposit by visiting the branch, via Dubai Islamic Internet Banking or Phone Banking.
- Profits are automatically deposited into your linked checking account. You can utilize your profit amount without visiting the branch by using your VISA debit card at ATMs or merchant location
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