Wakala Business can be booked in not only AED, but in USD & GBP currencies too. Competitive profit rates available.
Eligibility
Minimum investment AED 10,000 or USD 3,000 or GBP 2,500
Mashreq Al Islami Account
Customers who already hold an active Current or Savings Account with Mashreq Al Islami
Age
Must be 18 years old and above. A minor (below the age of 18) can apply along with a guardian
Easy booking & withdrawal
Book and withdraw your Wakala Deposit (FD) at any time. For early withdrawal, the profit rate of the last completed tenor is applicable on the Wakala booking date. You won't be charged any penalty.
Free Online, Mobile & Telebanking access
It’s good to know there are several methods to access funds wherever you are in the world.
The profit rates are available on Mashreq Online/Mashreq Mobile or contact us on +9714 424 4411.
The profit is paid out on maturity.
No. Partial withdrawal is not possible. However, you can withdraw the entire Wakala Deposit prematurely without any charges.
Yes, you can avail a Credit card facility against your Wakala Deposit.
You must have existing Mashreq Al Islami Current or Savings Account to apply for a Wakala Deposit.
Wakala is a Shari'ah compliant contract, in which the customer can authorise the Wakil (the bank) to invest funds in Shari'ah approved activities for profits.
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