Open a non-interest business account at no cost and gain access to round-the-clock support. Enjoy transparent fees and full control over your account. Additionally, leverage business consulting and financing services that add value to your business.
In just seconds, open a personal account with us. Explore a range of options including non-interest bearing savings, current, and investment accounts. Moreover, for those with salary accounts held with us, we provide Qard financing options.
Maal Non-Interest Microfinance Bank offers Mudaraba Term Deposit (MTD) product, which is a mode of deposit under Mudaraba principle of interest-free banking. The deposits under this mode are accepted by issuing receipt against each deposit for different tenures and amount of money as decided by the Bank and the customer. It is a fixed tenured deposit or time liability meaning that, it can only be withdrawn on written notice to the bank by the customer. This deposit is payable to depositors subject to its maturity or subject to a period of notice. For these reasons, it is also treated as stable component of deposit mix or investment deposit for the bank. The depositors are entitled to receive profit on their deposit after the expiry of the period or on an agreed profit distribution date on the basis of profit/loss sharing method as agreed upon by the Bank and customer.
Maal Non-Interest Microfinance Bank carries out its business, investment and financing activities in a manner that is compliant with non-interest Islamic principles both in form and in substance. Where a business activity such as investment and financing are adjudged non-Shari’ah compliant, the Bank will be exposed to a number of losses including loss of income and reputation. We offer business financing in the form of contracts of Murabaha.