Al-Safa

Al-Safa

Al Safa offers you peace of mind

Deposit your money in Al Safa savings and investment account and get profits that are calculated based on the minimum balance during the month and are credited at the end of the financial year.

Features

  • The Bank will invest 60% of the account balance, while the remainder will be dealt with as a current account.
  • Minimum balance: KD 100 only
  • Available in Kuwaiti Dinars and other major currencies
  • Salary cannot be transferred to this account
  • There is no minimum balance charge

Benefits

  • Profit is calculated based on the minimum balance during the month and is credited at the end of the financial year.
  • Free online banking
  • ATM card for Kuwaiti Dinar accounts only

Conditions and required documents

  • Valid Civil ID card
  • FATCA & CRS
  • KYC (Know Your Customer)
  • AML (Anti-Money Laundering)

Terms and conditions

The minimum for opening investment savings accounts and the basis for calculating the credit balance in such accounts shall be as shown in the following table:

Specifications of investment savings accounts
Name of investment savings account Minimum amount for opening account Basis for calculating account balance
Al Safa annual account 100 Kuwaiti Dinars The lowest credit balance during the month
Al Safa quarterly account 250 Kuwaiti Dinars The lowest credit balance during the month
Al Tharwa quarterly account 500 Kuwaiti Dinars The average monthly credit balance calculated on the basis of daily balance during the month
Al Safa annual account in foreign currency 1000 US Dollars or its equivalent in the main foreign currencies The lowest credit balance during the month


  • Investment savings accounts are invested on an absolute Mudaraba basis at 60% of the account balance, while the remainder will be dealt with as a current account.
  • The Bank receives 40% of the net profit realized in the investment savings accounts against its share as a Mudarib partner except for Al Safa annual account where the Bank receives 20% of the net profit realized against its share as a Mudarib partner.
  • The Bank has the right to refuse or accept investment deposits in investment savings accounts or to limit the amounts that can be accepted for investment in any type of investment account.
  • Withdrawals from these accounts are made by designated forms or by debit cards.
  • If the account is closed, it will be marked as “Pending Profit Payout” and will be permanently closed once profits are distributed in the second quarter of account closure.
  • Checks may not be written with such accounts.
  • Salaries cannot be transferred to such accounts.

Frequently asked questions

Can I get a debit card with this account?
Debit cards are only issued for accounts in Kuwaiti Dinars and not for accounts in foreign currency.
Is the amount of KD 100 blocked?
No.
* The opening of an account is subject to the Bank's terms and conditions

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Al-Safa

Other Products

  • Current Account

    Current Account

    We offer you a quick and accurate service for your daily transactions. This current account for individuals is at your disposal, and the credit balance in the customer account is considered an interest-free loan where the account is not subject to profit and loss.
  • Salary Account

    Salary Account

    Because serving you best is at the top of our priorities, we have designed a special account for the transfer of your monthly salary. The salary account is for individuals only and within your reach. The credit balance in your account is considered an interest-free loan where the account is not subject to profit and loss.
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