A Shariah compliant banking solution especially designed for Home Remittance Beneficiaries to facilitate hassle free transfer of home remittances. Besides that the account will provide the opportunity to avail a number of banking services offered by the bank. This account is based on Mudharabah and operated like normal chequeing account(s) on profit / loss sharing basis.
- Automatic instant credit of Foreign Inbound Remittances directly to this account without visiting the bank’s branch
- Account can only be opened in local currency i.e. Pak Rupee Only by Home Remittance Beneficiaries.
- Profit calculated on average balance of the month.
- Profit or Loss will be shared on monthly basis.
- Single slab
- Cash withdrawal(s)/Transfer(s) of foreign remittance is exempt from withholding tax deduction, whereas withholding tax is applicable on profit amount as per prevailing rates.
- Free first cheque Book of 10 leaves.
- Free Issuance of first ATM/Visa Debit Card.
- No minimum balance requirement for profit eligibility
- No account maintenance charges.
- No account closing charges.
- The Bank will utilize all such deposits as per the policy in Shariah compliant modes of financing / investments.
- Zakat applicable as per Zakat Laws.
- Online banking services available at the Bank’s entire network.
- 24/7 access to account through Allied Phone Banking.
For more information about the account, you can visit your nearest Allied Bank Islamic Banking Branch or call our Allied Phone Banking Services at 111-225-225.