Deposits Products

alburaq checking account is a contract for an account opened for any natural person for personal or professional purposes. alburaq guarantees the account balance and is committed to return an amount equal to the balance upon the request of the account holder, such that no profit accrues on the credit balance of the checking account in accordance with the interest-free loan (Qard Hassan) contract.

The investment savings account is a contract for a current deposit account that generates profit for the account holder in accordance with the principle of sharing the results of the investment pool transactions trustfully carried out by “alburaq”, such that “alburaq” only guarantees the deposited amounts and their profits in the event of wilful misconduct or gross negligence in accordance with the Moudaraba contract.

​The term investment account is a contract for a fixed-term deposit account that generates profit for the account holder in accordance with the principle of sharing the results of the investment pool transactions trustfully carried out by “alburaq”, such that “alburaq” only guarantees the deposited amounts and their profits in the event of wilful misconduct or gross negligence in accordance with the Moudaraba contract.

The investment certificate is a contract in the form of a financial security to which the customer subscribes for a fixed amount and term and generates profit to the certificate holder in accordance with the principle of sharing the results of the investment pool transactions trustfully carried out by “alburaq”, such that “alburaq” only guarantees the deposited amounts and their profits in the event of wilful misconduct or gross negligence in accordance with the Mudaraba contract.​