Islamic Banking Products

Like conventional banking, Islamic banks offer a variety of unique banking, saving and investment solutions that operate in strict compliance with Shari’ah Law. There are various bank accounts with different qualifying criteria and benefits. Islamic banks offer up to 15 diverse types of investment services across South Africa. These include;

Islamic Cheque Accounts


Islamic gold cheque account

Islamic platinum cheque account

Islamic private clients cheque account

Islamic business account


These accounts from the different Islamic banks offer exclusive value and rewards. The exclusive value and rewards differ in respect to the different accounts, and banks.

These include;

  • cash backs;
  • eBucks;
  • internet banking;
  • cellphone banking; and
  • free electronic transfers between your linked accounts, among others.


 

Islamic Savings Accounts


Islamic savings



This is a Shari'ah -compliant transactional savings account that provides you with a pre-agreed profit-share pay-out and a card that you can use to access your funds at any time.



Islamic TargetSave



Islamic TargetSave account holders get 30% profit share allocated to the Islamic TargetSave book.



Islamic Smart Account






Islamic Youth Account


A convenient Shari'ah-compliant banking option for Islamic youths under the age of 18, the Islamic Youth Account is an innovative combination of a transactional and savings account. This allows you the freedom to make the purchases that you need – without the worry of carrying around cash.
Account helps under 18's learn to manage their money wisely.
South African Citizens or permanent residents, 18 years or younger.


Islamic Investment Accounts


Participation account


This is a profit-generating account in which your capital is invested for a fixed period. Your investment is placed in a pool together with capital from other investors. At the end of the investment period, you share in the profits generated is on a pro-rata basis. 


Regular Income Provider


Specific to one bank 


Islamic Term Deposit


Based on the Mudarabah principle, the Islamic Term Deposit is a fully Shari'ah -compliant.

An Islamic Term Deposit is an investment with a fixed term offering you great returns over the period of your investment. No monthly transaction fees. 


Monthly Investment Plan


Specific to a bank 


Haj Investment Scheme


Specific to a bank


Unit Trust



Specific to a bank



Administration of Estates and Wills


Specific to a bank



Find out which banks offer competitive exchange rates and favourable service fees for all your national and international banking transactions and investments which are tailored to accommodate your personal needs.


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