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Retail BankingSavings Accounts


Al-Tharwa Account

An investment savings account where profits paid at the end of every quarter are calculated on the average end-of-day balance for each month.

Features:
  • The Bank will invest 60% of the balance, while the remaining amount will be treated according to the current account principle.
  • Salary can’t be transferred to account.
Benefits:
  • Free Online Banking Service.
  • Free mailed monthly statement of account upon request.
  • Profit is average monthly credit balance calculated on the daily balance during the month and distributed quarterly.
Requirements:
  • Valid Civil ID
  • FATCA
  • KYC (Know your Customer)
  • AML(Anti Money Laundry)
  • W8/W9 (FOR Americans)
  • Public exposed Person (PEP)
Q & A:
  • Can I have a card for this account (debit/credit)?
  • Yes
  • Is the KD 500 blocked?
  • No

To know more about our fees and commision, click here

For terms and conditions, click here


Al-Safa Account

An investment savings account where profit is calculated on the minimum balance during the, with profit payout at the end of fiscal year.

Features:
  • The Bank will invest 60% of the balance, while the remaining amount will be treated according to the current account principle.
  • Salary can’t be transferred to account.
  • Available in KD and major foreign currencies
Benefits:
  • Free Online Banking Service
  • Free mailed monthly statement of account upon request
  • Profit is calculated on the minimum balance during the month and distributed every fiscal year
  • Free Al-Safa Debit Card in Kuwaiti Dinar only
Requirements:
  • Valid Civil ID
  • FATCA
  • KYC (Know your Customer)
  • AML(Anti Money Laundry)
  • W8/W9 (FOR Americans)
  • Public exposed Person (PEP)
Q & A:
  • Can I have a card for this account (debit/credit)?
  • Yes
  • Is their ATM Card for foreign currency?
  • No
  • Is the KD 100 blocked?
  • No
Terms & Conditions:
  • The minimum limit for opening investment saving accounts, the basis for computing of the credit balance, and the ratio of invested funds for computing of the profit in these investment accounts, shall be as shown in the following table:

  • Investment Saving Accounts Particulars
    Sl Investment Saving Account Min. Bal. for Opening the Account Basis for Calculation of the A/C Balance
    1 Al-Safa Annual A/C KD 100 For the min. credit balance during the month
    2 Al-Tharwa Quarterly A/C KD 500 For the average monthly credit balance calculated on the daily balance during the month
    3 Al-Safa Annual FC A/C US$ 1000 or the equivalent in major foreign currency For the min. credit balance during the month
  • Investment saving accounts shall be invested based on unrestricted Mudaraba by 60% of the account balance, and the remaining portion of the account shall be subject to the current account regulations.
  • The Bank shall collect 40% of the net profit realized from the investment saving account in consideration of its share as a Mudareb partner, excluding Al-Safa Annual Account of which the Bank shall collect 20% of the net profit realized therefrom in consideration of its share as a Mudareb partner.
  • The Bank may deny or accept investment deposits in the investment saving accounts and to place limits for amounts that can be deposited for investment in any of the investment accounts.
  • Withdrawal from these accounts shall be made by using withdrawal vouchers for this purpose or by ATM cards.
  • Cheques may not be issued on these accounts.
  • For the complete terms and conditions, click here


To know more about our fees and commision, click here


Al-Hassad Investment

Invest in AI-Hassad Islamic and you will be enrolled in the program of weekly and quarterly draws, which offers you the biggest prize pool by far and the highest chances to win. Your dreams are now closer than you think. Open AI-Hassad Islamic Saving Investment Account today and you will have the chance for lucrative yearly profits and 4 opportunities throughout the year to win a “Salary for life”*. The four prizes are worth KD 1 Million, to be distributed among 4 winners. Al-Hassad Account also includes chances to win weekly prizes worth KD 50,000 each for 26 winners, from a total pool of KD 2.4 Million. The investment is made on the basis of Wakala contract, where the bank shall invest the whole balance at an expected profit rate (0.01%) and agreed on with the customer.

Features:
  • Weekly prizes of KD 2.4 Million:‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
    • One weekly prize worth KD 25,000 (as one payment).‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
    • 25 weekly prizes, each worth KD 1,000 (as one payment)‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
  • Quarterly Prizes of KD 1 Million:‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
    • One Quarterly draw worth KD 250,000 “Salary for Life” *(KD 1,000 per month will paid to the winner over 250 months maximum)*‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
Draw Eligibility Requirements
  • Every KD 50 invested earns at least one chance in the weekly and quarterly draws based on the period for which the balances are held as detailed below.‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
  • Minimum opening balance KD 100
  • The minimum balance will be blocked and can’t be withdrawn before closure of account
For Weekly Draw Prizes

Investment savings balances held for a period of 7 days prior to the weekly draw will earn 1 draw chance per KD 50.‭‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

For Quarterly Draw Prizes
  1. Investment savings balances held for a 2 week period prior to draw will earn 1 draw chance per KD 50
  2. Investment savings balances held for a 4 month period prior to the draw will earn 2 draw chances per KD 50
  3. Investment savings balances held for a 6 month period prior to the draw will earn 3 draw chances per KD 50
  • Customers’ funds in AI-Hassad Islamic Saving Investment Account shall be invested in full on the basis of Wakala investment.‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
  • Profit is calculated on the minimum balance during the month and distributed every fiscal year
  • Prizes granted under AI-Hassad Islamic Prize Program are from the bank funds and not from depositors’ funds.
  • Maximum of 10,000 chances per draw.‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬
  • The bank Fatwa and Shari’ah board has approved the prizes program for the investment accounts.‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Al-Hassad customers of AUB Kuwait and Bahrain are eligible to participate in the prize draws as per the scheme Terms & Conditions.

Benefits:
  • Free debit card
  • ATM Withdraw up to KD 2,000 per day
  • SMS service alerts
  • Easy & Flexible remittance locally and internationally
  • Free Online Banking Service
  • Mobile banking
Requirements:
  • Valid Civil ID
  • Complete the account opening forms and fill the relevant attachments(FATCA / KYC / AML / W8 W9 / PEP)
Q & A:
  • Can I have a card for this account (debit/credit)?
  • Yes
  • Is the KD 100 blocked?
  • Yes

To know more about our fees and commision, click here

For terms and conditions, click here