Wakala Special Investment Deposit

Overview

For people who want a periodic, stable income coupled with steady capital appreciation, our Wakala Special Investment Deposit provides the ideal platform and opportunity. This unique deposit scheme offers different maturities structured to allow investors to benefit from a constant and steady source of income, with the principal amount paid at maturity.

How does it work?

You the investor (Muwakkil) appoints us, Commercial Bank of Dubai Al Islami, as an agent (Wakeel). We will then ensure investment of your funds in Shari'a compliant transactions with constant close monitoring by our team of specialists. Based on "Wakala", the bank (Wakeel) will use your investment fund for its general corporate purposes to achieve an agreed profit rate for you.

You will not be able to terminate the agreement, add or withdraw funds before the maturity date.

Features and Benefits

• A minimum deposit amount of AED 500,000
• Available in Pound Sterling and US Dollars - The minimum requirement in foreign currency should be equivalent value of AED 500,000 depending on the currency exchange rate on the date of the deposit.
• No brokerage - No intermediate parties involved, does not attract brokerage
• Competitive profit - Profit according to the current market benchmarks
• Profits are paid on maturity
• Available to high net worth customers

Requirements

• Current account with Commercial Bank of Dubai Al Islami (Funds should be available in the nominated account at the time of agreeing the rate and terms of the deposit).
• Legal documentation
• Wakala request form
• Master Wakala agreement
• Acceptance of offer letter

For more information, please contact your Commercial Bank of Dubai Al Islami Relationship Manager or call 800847.

*Terms & Conditions apply.