{"id":6756,"date":"2021-08-17T11:19:51","date_gmt":"2021-08-17T11:19:51","guid":{"rendered":"https:\/\/www.dibpak.com\/?page_id=6756"},"modified":"2024-01-17T18:14:24","modified_gmt":"2024-01-17T13:14:24","slug":"johara-account","status":"publish","type":"page","link":"https:\/\/www.dibpak.com\/index.php\/accounts\/johara-account\/","title":{"rendered":"Johara Account"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><h2>JOHARA ACCOUNT<\/h2>\n<p>The Johara Account is checking (current or saving) account which is designed to cater the needs of women whether they are entrepreneurs, salaried or self-employed individuals or housewives who wish to open bank account to receive remittances from abroad or simply a college students who wishes to open an account to fulfill their banking needs.<\/p>\n<p>This product\u2019s saving account is based on Mudarbah, whereby, the account holder (fund provider or Rab ul Mal) authorizes Dubai Islamic Bank Pakistan Limited (Mudarib or investment manager), to invest the Rab ul mal\u2019s funds on the basis of unrestricted Mudarbah contract according to the principles of Sharia.<\/p>\n<p>Whereas current account is based on the Qard contract. Where the depositor permits bank 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.<\/p>\n<p>The Johara Account is being offered in Pak Rupees, US Dollar, UK Pound, Euro and UAE Dirham.<\/p>\n<h2>Features<\/h2>\n<ul class=\"list-unstyled aa-ul\">\n<li>Open with an initial deposit of just Rs. 1,000<\/li>\n<li>No Account maintenance service charges<\/li>\n<li>No restriction on the number of monthly deposits or withdrawals<\/li>\n<li>Profit calculation on monthly average balance<\/li>\n<li>Profit will be paid on monthly basis<\/li>\n<li>First Cheque book of twenty five leaves<\/li>\n<li>Locker 50% Waiver (Small locker for first year subject to availability), onwards renewal charges as per SOC<\/li>\n<li>Discounted financing services\/rates<\/li>\n<li>50% Discount on application processing fee for Consumer Finance<\/li>\n<li>Online banking services nationwide<\/li>\n<li>Internet Banking<\/li>\n<li>E-mail statements (twice a year)<\/li>\n<li>Joint account in the name of individuals will be allowed. However, both account holders should be females<\/li>\n<li>Giving Power of Attorney (mandate) to operate this account will not be allowed.<\/li>\n<li>Zakat applicable as per Zakat &amp; Ushr ordinance on saving account<\/li>\n<\/ul>\n<p><em>The following Account falls under Sections 7 (3) of Deposit Protection Corporation Act, 2016 for more information visit.&nbsp;<\/em><a href=\"https:\/\/www.dibpak.com\/index.php\/deposit-protection-mechanism\/\"><em><span style=\"text-decoration: underline;\"><strong>dibpak\/deposit-protection-mechanism\/<\/strong><\/span><\/em><\/a>[vc_row][vc_column][vc_column_text]<\/p>\n<h2>JOHARA ASAAN ACCOUNT<\/h2>\n<p>Women can now open their account with minimum documentation and get the benefits of Johara Account.<\/p>\n<h2>Features<\/h2>\n<p>Minimal documentation requirement<\/p>\n<ul class=\"list-unstyled aa-ul\">\n<li>Account can be opened under Savings or Current<\/li>\n<li>Account can be opened by Individuals (Singly or jointly)<\/li>\n<li>Offered in PKR only<\/li>\n<li>Initial Deposit Requirement of Rs. 100<\/li>\n<li>Maximum withdrawal (debit) &amp; deposit (credit) limit allowed is Rs. 1,000,000 per month<\/li>\n<li>Profit sharing on Mudarbaha basis<\/li>\n<li>Profit will be paid on monthly average balance basis<\/li>\n<li>Profit will be paid on monthly basis<\/li>\n<li>No minimum balance required<\/li>\n<li>ATM\/VISA debit card facility<\/li>\n<li>24\/7 phone banking assisting services<\/li>\n<li>Free Internet &amp; Mobile Banking services<\/li>\n<\/ul>\n<h2>Benefits<\/h2>\n<ul class=\"list-unstyled aa-ul\">\n<li>Free first cheque book of twenty-five leaves<\/li>\n<li>Free locker for first year<\/li>\n<li>Discounted financing facilities of Auto, Housing, Personal Financing<\/li>\n<\/ul>\n<h2>&nbsp;<\/h2>\n<h2>FAQs:<\/h2>\n<p>[\/vc_column_text][vc_toggle title=&#8221;What is Johara Account?&#8221;]The Johara Account is targeted at females and specifically designed for women entrepreneurs, salaried and self-employed individuals or housewives who wish to open bank account to receive remittances from abroad or simply a college students who wishes to open an account to fulfill their banking needs.[\/vc_toggle][vc_toggle title=&#8221;What are the free services available in this product?&#8221;]There are no Cheque book charges on the issuance of first cheque book of 25 leaves, Locker 50% Waiver (Small locker for first year subject to availability), onwards renewal charges as per SOC, free online banking services nationwide.[\/vc_toggle][vc_toggle title=&#8221;Is there any benefit on consumer finance in this Account?&#8221;]Yes, there is 50% discount on consumer finance application processing fee for the account holders in this product. Whereas, discounted rates are available for House Finance, Auto Finance and Personal Finance.[\/vc_toggle][vc_toggle title=&#8221;Can Minor open a Johara Account?&#8221;]Yes. If guardian and minor both are female. In case of minor account, photocopy of Form-B, Birth Certificate or Student ID card (as appropriate) of the minor will be required. In addition, photocopy of any of identity document as per (a) above of the guardian of the minor shall be obtained.[\/vc_toggle][vc_toggle title=&#8221;Can Non-residents and foreign nationals open Johara account?&#8221;]Yes, Johara account can be opened by residents and foreign nationals.[\/vc_toggle][vc_toggle title=&#8221;Can a person open Johara Account jointly?&#8221;]Yes. But both account holders should be females.[\/vc_toggle][vc_toggle title=&#8221;What are the initial deposit and minimum balance requirements for Johara Account?&#8221;]Johara Accounts shall be opened with minimum of PKR 1,000 or equivalent in other currencies as initial deposit. However, there are no minimum balance requirements on the account.[\/vc_toggle][vc_toggle title=&#8221;Are the conditions for account being marked as dormant or inoperative same as in case of regular accounts?&#8221;]Yes, conditions will be the same for Johara Account.[\/vc_toggle][vc_toggle title=&#8221;Can a company account be opened as Johara Account?&#8221;]Yes. However, only companies where major shareholding of the company are with females.[\/vc_toggle][vc_toggle title=&#8221;How the profit is being calculated?&#8221;]Profit is calculated on the basis of monthly average balance and paid on monthly basis.[\/vc_toggle][vc_toggle title=&#8221;What is the monthly fee for Johara Account?&#8221;]There is no monthly fee for Johara Account. It is absolutely free.[\/vc_toggle][vc_toggle title=&#8221;What is the Islamic mode of profit sharing?&#8221;]Profit sharing is on the basis of Mudaraba for saving accounts.[\/vc_toggle][\/vc_column][\/vc_row]<\/p>\n<h2>Islamic Refinance Scheme for Women Entrepreneurs (IRS-WE)<\/h2>\n<p>Dubai Islamic Bank offers a shariah-compliant financing facility under State Bank of Pakistan\u2019s \u201cIslamic Refinance Scheme for Women Entrepreneurs (IRS-WE)\u201d. The scheme provides affordable financing to women-owned small &#038; medium size businesses. The objective of the scheme is to promote the growth of women-led businesses, reduce the financing gap and contribute to economic development and gender empowerment.<\/p>\n<h2> Features <\/h2>\n<ul class=\"list-unstyled aa-ul\">\n<li>    Maximum  financing limit of Rs. 5 Million <\/li>\n<li>    Maximum Tenor 5 years <\/li>\n<li>    Grace period of 6 months <\/li>\n<li>    Attractive financing rate of 5% only <\/li>\n<li>    Personal guarantee of customer required. Further appropriate security will be taken as per Bank\u2019s risk assessment. <\/li>\n<\/ul>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>JOHARA ACCOUNT The Johara Account is checking (current or saving) account which is designed to cater the needs of women whether they are entrepreneurs, salaried or self-employed individuals or housewives who wish to open bank account to receive remittances from abroad or simply a college students who wishes to open an account to fulfill their &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.dibpak.com\/index.php\/accounts\/johara-account\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Johara Account&#8221;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":7078,"parent":175,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/6756"}],"collection":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/comments?post=6756"}],"version-history":[{"count":26,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/6756\/revisions"}],"predecessor-version":[{"id":34091,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/6756\/revisions\/34091"}],"up":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/pages\/175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/media\/7078"}],"wp:attachment":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/media?parent=6756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}