Al-Khair Investment Deposit

Al-Khair (investment deposit)

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If you are seeking a Shari'ah compliant way to invest and grow your savings, and earn an expected profit distribution, then Al-Khair investment deposit is the right solution for you, enjoy a complete array of flexible short-term investment solutions to achieve all your financial expectations.

Who is it for?

Kuwaitis and expatriates
For companies and/or individual establishments.

What do you get?

Flexible Deposit Terms: 1, 3, 6 and 12 months
Profit Payment at maturity of the investment deposit
Investment expected profit is agreed upon and is made on the basis of Wakala investment contract
Option to get financing against a block on your deposit*

What is the minimum opening balance?

KD 3,000 or equivalent in all major foreign currencies

Terms & Conditions:

• The deposit will be renewed automatically for similar term(s) with the accrued profits for the preceding period without the need to serve any notice, unless the bank receives written instructions to do otherwise prior 5 business days of the maturity date

• Should there be a need to withdraw the invested amount of the deposit prior to its maturity, the following rules for the calculation of the profit will be applied:

- For KD deposits the profit calculation to be applied is similar to that applied on the investment saving wakala account (Al-Hassad Islamic). the calculated profit will be deposited in the routing account the following business day.

- For Foreign currency, the profit calculation to be applied is similar to that applied on the investment saving mudaraba account in foreign currency (Al-Safa yearly) the calculated profit will be deposited in the routing account post the announcment of the annual profit.

• Investment of the deposit amount will start on the same business day for the local currency, while for the foreign currencies the investment of the deposit will start on the next business day.

• During the investment period, you cannot make additional deposits or withdraw any amount

* Approval is subject to terms and conditions applied

For more information please call Hayakom on 181 2000 at anytime, or visit any branch of Ahli United Bank, Kuwait