Islamic Investment Certificates

Investment Certificates are offered on the basis of ‘Mudaraba’ Contract.

Allied Islamic Investment Certificate is a Sharia compliant mode of investment with variety of tenors and profit / loss distribution options.

Salient Features

  1. Investment certificates will be issued based on the mode of Mudaraba for the period of 1 month, 3 months, 6 months, 1 Year, 2 years, 3 years, 4 years and 5 years through Allied Islamic Saving / Current account. The deposit will be accepted for different periods at the discretion of the Bank from time to time.
  2. Profits or Loss will be shared on Monthly, Quarterly, Half Yearly or Maturity basis or may be decided / declared from time to time at the discretion of the Bank.
  3. Investment certificate will be issued in the multiple of minimum Rupees 25,000.
  4. The Bank will utilize all such deposits as the Bank may deem appropriate in Shariah compliant modes of financing / investments.
  5. Following options will be available at maturity of the certificate or as approved by the Bank from time to time:
    • Roll-over with Principal and Profit
    • Profit Encashment (in linked current / saving account) and Principal Roll-over
    • Principal and Profit Encashment at maturity (in linked current / saving account)
  6. In case of early/premature encashment, the applicable weightage on such Certificate (TDR) shall be that of the Certificate (TDR) of the nearest completed tenor. For instance, a five year Certificate (TDR) encashed after one year shall be assigned the weightage applicable on one year Certificate (TDR). Pre-mature encashment will be allowed on the profit rates declared for the corresponding period for which investment remained with the Bank, as follows:
    • For completed years (i.e. 1, 2, 3, 4), rates for the corresponding completed years will be selected
    • For the period exceeding completed years, last declared rate for the regular saving accounts will be selected
    • For the TDR having maturity less than one year, last declared rate for the regular saving accounts will be selected
    • No premature charges or termination fees will be charged on any type of investment certificate