Under the Mudarabah contract, the customer is the investor also known as Rab-ul-Mal and the bank is the investment expert known as Mudarib. Mudarabah Term Deposit is a profit-sharing product where FMF-A receives the deposits on the Mudarabah principle and invests it in Halal business. Approved by our Shari’ah Board, FMFB-A’s Mudarabah Term Deposits allow you to make the most of value-added benefits as you create wealth at low risk.
Choose from terms ranging from six months, one year, two years, and three years of investment tenures and receive monthly profit payments.
Features and Benefits
- Availability of multiple currencies (AFN, USD) for opening accounts
- Minimum balance: AFN 100,000 / USD 1,000
- Profit will be accrued on daily basis and paid on the agreed maturity date/ Quarterly
- Expected profit rates are tier-based where higher expected profit rates will be given for longer periods. (based on mutual agreement)
- The customer should have an existing Current (cover) account to be linked to the FTD account.
- Tenor- Ranging from 6 Months to 3 Years
- No account closure fee.
- No statement will be sent to the Customers – a deposit certificate will be issued instead.
- Deposits may be made by cash, cheque, or direct account transfer
- Funds deposited will be administered in accordance with Shari’ah principles
- SMS Alert to confirm and update your latest banking transactions
Opening Corporate Mudarabah Term Deposit Account at FMFB-A
To complete the account opening process, personally visit any of our branches with the following documents:
- Original Electronic NID (Tazkira) or Original Valid Passport
- Update business license
- Article of Association (AOA)
- Request for account opening on company letterhead
- Tax Identification Number (TIN)
- Board Resolution
- Completion of KYC forms
- Passport-size photo of shareholders
How to Apply
For more information please call our Customer Service Centre by dialing 599 or visiting any of our branches.