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Overview – Allied Islamic Business Plus Account

The Allied Islamic Business Plus Account operates like a standard chequing account under the Mudarabah model, allowing businesses to manage their funds with ease while participating in a profit-sharing mechanism. No minimum balance is required, and profits/losses are shared on a six-month basis.

Mudarabah is a form of Islamic partnership where:

  • Rabb-ul-Maal (Investor) provides capital

  • Mudharib (Manager) manages the business

Profits are shared as per agreed ratios, while losses are borne solely by the investor, unless caused by negligence or breach of contract.

The account is offered in the following variants to cater to the different banking preferences /requirements of the Business segment:

  • Remunerative Current Account
  • Saving Account

  • Business Customers

  • Sole Proprietorships

  • Firms

  • Companies

  • Based on the Islamic concept of Mudarabah

  • No minimum balance requirement

  • Profit/loss sharing on a six-monthly basis (or as declared by the Bank)

  • No account closing charges

  • Funds are invested in Shariah-compliant modes

  • Unlimited deposit/withdrawal transactions (no caps)

  • Value-added services may be offered (free or charged) at the Bank’s discretion

  • Currency: PKR only

  • Initial Deposit: PKR 1,000

Free services for all account holders (no minimum balance required):

  • Issuance of CDR

  • Online clearing (cheque/instrument deposit for clearing/collection via remote branch)

  • Online Cash Deposit

  • Online Cash Withdrawal

  • Online Account-to-Account Transfers

  • Free Cheque Book

  • Issuance of  / Allied Banker Cheque (Payable at any branch)

  • Cancellation of Allied Banker Cheque (Payable at any branch)  / Call Deposit Receipt

  • Duplicate Issuance of  Allied Banker Cheque (Payable at any branch) / Call Deposit Receipt

  • Intercity Clearing / OBC (Note: OBC is free; postage/courier charges apply)

  • Fill out the application form (available at any Islamic Banking branch)

  • You can also start your application online by submitting basic information through the digital form

  • A bank representative will connect with you shortly