| 1 |
Minimum Deposit: Rs. 25,000 |
| 2 |
Islamic Tools used in designing the product: Mudaraba/
Musharaka |
| 3 |
Tenors Available:1 mth, 2 mth, 3 mth, 6 mth,and 1 yr, 2yr, 3yr & 5 yr
|
| 4 |
Product to be availed by: Individuals & Joint Account
Holders (Local), Companies, Corporate, Trusts, etc |
| 5 |
Special Advantages: |
| |
a |
For Customers = Profit Payment Options customized to
suit needs of customers; Minimum Deposit requirement’s lower
than most banks so it is more accessible/ affordable for people |
| |
b |
Shariah = Meets requirements for Shariah Compliance |
| |
| 6 |
Additional Features: |
| |
a |
Call center facilities |
| |
b |
Taking hold mail/ standing instructions for profit payments etc |
| |
c |
Personal financial consultancy services (regarding Shariah Compliant
products) |
| |
| 7 |
Frequency of Announcements: The first announcement shall
be made at the end of the month of December 2003. |
| 8 |
Profit Payment Options: Monthly/ Quarterly/ At Maturity. |
| 9 |
Weightages: Different weightages based on tenors and
profit payment options |
| 10 |
Communication Process: Announcement every month on notice
boards, and website |
| 11 |
Banking Network: IBD's Branch only |
