{"id":6758,"date":"2021-08-17T11:21:12","date_gmt":"2021-08-17T11:21:12","guid":{"rendered":"https:\/\/www.dibpak.com\/?page_id=6758"},"modified":"2022-01-24T12:05:32","modified_gmt":"2022-01-24T12:05:32","slug":"senior-citizen-account","status":"publish","type":"page","link":"https:\/\/www.dibpak.com\/index.php\/accounts\/senior-citizen-account\/","title":{"rendered":"Senior Citizen Account"},"content":{"rendered":"

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Senior Citizen       <\/strong><\/h2>\n

This Product will cater the needs of senior citizens(widows and pensioners are also eligible in this product), whether they are still working retired pensioners, living on remittances sent by their children from abroad or living on their lifetime saving. This product is designed to be more customer oriented by passing on maximum benefit to customers. Customers will be able to add or withdraw their savings at any time, or set up a savings plan with periodic transfers if desired from their other checking accounts with maximum flexibility. The Bank has also lowered the threshold of entry for potential savers, with a minimum investment of just one hundred thousand to be eligible for higher returns.<\/p>\n

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

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

The Senior Citizen\/Widows\/Pensioner Account is being offered in Pak Rupees Only.<\/p>\n

 Features<\/h2>\n