Current Account

Current Account

A Current Account that aligns your business values with your Islamic values. It enables you to manage and maintain your money in a seamless manner.

How it worksFeatures
Mudaraba Deposit

Mudaraba Deposit

Mudaraba is a profit-sharing partnership investment contract between you as a capital provider and the bank as Mudarib. This investment can be a transaction, a project or a fund to generate profits for depositors. This investment can be any type of profit generating Shari'ah compliant asset (transaction, a project).

How it worksFeatures
Mudaraba Call Account

Mudaraba Call Account

Mudaraba is a special kind of partnership where you (‘Rab Al Mal’) provide money to the bank (‘Mudarib’) for investing in Shari’ah compliant assets that generate a specific income.

How it worksFeatures
Mudaraba Savings Account

Mudaraba Savings Account

The freedom of frequent banking transactions and the benefit of competitive profit rates combine to your advantage, with a Mudaraba Savings Account.

How it worksFeatures
Wakala Deposits

Wakala Deposits

Highly competent management of Shari'ah compliant investments with healthy returns and flexible tenors define our Wakala Deposits.

How it worksFeatures

What are people asking?

Islamic Fixed Deposits are Shari'ah compliant financial instruments offered by Emirates NBD Islamic that allow customers to earn profit on the funds placed with the bank.

Mudaraba Deposits

  • Based on a Mudaraba structure where you and the bank enter into a profit sharing Shari'ah compliant partnership.
  • Flexible tenors from 1, 3, 6, 9, 12, .etc.

Wakala Deposits

  • Based on a Wakala structure where you appoint the bank as your agent to invest the funds in profit generating Shari'ah compliant assets and generate an expected income.

Islamic Fixed Deposit accounts may be opened by residents and non-residents. An operative account (Current or Savings) is mandatory prior to opening an Islamic Fixed Deposit account.

For existing accountholders, an individual can apply through branch application.

Mudaraba Deposits

  • The Minimum amount of deposit required is AED10, 000 (or equivalent)

Wakala Deposits

  • Minimum deposit amount of AED 4 Million (or USD 1 Million)

Islamic Fixed Deposits can be opened in AED & USD

Islamic Fixed Deposits are Shari'ah compliant financial instruments offered by Emirates NBD Islamic that allow customers to earn profit on the funds placed with the bank.

Mudaraba Deposits

  • Based on a Mudaraba structure where you and the bank enter into a profit sharing Shari'ah compliant partnership.
  • Flexible tenors from 1, 3, 6, 9, 12, .etc.

Wakala Deposits

  • Based on a Wakala structure where you appoint the bank as your agent to invest the funds in profit generating Shari'ah compliant assets and generate an expected income.

Islamic Fixed Deposit accounts may be opened by residents and non-residents. An operative account (Current or Savings) is mandatory prior to opening an Islamic Fixed Deposit account.

For existing accountholders, an individual can apply through branch application.

Mudaraba Deposits

  • The Minimum amount of deposit required is AED10, 000 (or equivalent)

Wakala Deposits

  • Minimum deposit amount of AED 4 Million (or USD 1 Million)

Islamic Fixed Deposits can be opened in AED & USD

Rates differ based on applicable tenor and currency. Kindly, Click Here for last declared Mudaraba profit rates.

For Wakala Deposits, profit is payable on maturity.

Mudaraba profit distribution is done on quarterly basis regardless of the deposit tenor.

You will receive an Islamic Fixed Deposit advice, on both booking and renewal. It will be sent as an advice to your registered E-mail that is updated as per the bank records.

All Islamic Fixed Deposits are approved by Emirates NBD Internal Shari'ah Supervision committee. Please Click Here for Fatwas.

Mudaraba profit rate cannot be given in advance, only previous quarter rate can be given to the customers as an indicative rate for the coming quarter. This rate might go up or down, Depending on the Mudaraba asset pool performance.

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Current Account

How it Works:

A Current Account that comes with various features that will help you perform everyday transactions with ease.

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Current Account

The Current Account allows you to move your money, carry out your daily banking activities with ease, and benefit from our extensive network.

Features:

  • No minimum balance charges
  • Free, internationally recognised Debit Card
  • Free online banking to view, manage and conduct transactions at your convenience
  • Phone banking for anytime-anywhere access to your accounts
  • SMS account updates for charge card balances and other transactions
  • Currencies
    • Available in AED and USD
    • Debit card and cheque book are not available with Foreign Currency Current Accounts
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Mudaraba Deposit

Mudaraba is a profit-sharing partnership investment contract between a capital provider (‘Rab Al Mal’) and a bank fund manager (‘Mudarib’). This investment can be a transaction, a project or a fund to generate profits for depositors.

Features:

  • Tenors: 1 month / 3 months / 6 months / 9 months / 12 months
  • Attractive profit rate
  • Auto renewal facility
  • Available in AED and USD
  • Flexibility to deposit or withdraw at any time
  • Shari’ah compliant
  • Minimum balance of AED 10,000 required
  • Profit credited to account quarterly
  • Profit calculation is based on quarterly average balance

Mudaraba Deposit

How it Works:

We invest your deposits in a pool of Shari’ah compliant assets and generate a quarterly profit return based on the profit-sharing principle. The profit is calculated based on the pool generated income.

Mudaraba Savings Account

How it Works:

Mudaraba is a special kind of partnership where you (‘Rab Al Mal’) provide money to the bank (‘Mudarib’) for investing in Shari’ah compliant assets that generate a specific income.

This income is shared between the investor, who is the account holder, and the bank, i.e. the Mudarib or trust manager. It operates under the ‘unrestricted’ Mudaraba principle and is designed to generate regular earnings in a Shari’ah compliant manner. The actual profit is distributed as per the agreed ratio at the end of each quarter. At Emirates NBD, we are authorised to invest the money according to the Shari’ah principles of Mudaraba.

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Mudaraba Savings Account

The account operates under the ‘unrestricted’ Mudaraba principle and offers very competitive profit rates without limiting your banking transactions.

Features:

  • No Minimum balance
  • Available in AED and USD
  • Minimum tenor of 30 days to avail profit
  • Available to individuals only
  • Quarterly profit distribution to the account
  • No cheque book issued

Wakala Deposits

How it Works:

Wakala is an agency contract, where the customer (Principal) appoints the bank as his agent to carry out investment activities as per an agreed plan and generate an expected profit rate

In Wakala contracts, the actual profit is distributed according to the profit ratio agreed upfront. The bank or ‘wakil’ is able to specify expected returns from the funds provided by the customer.

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Wakala Deposits

Invest and gain profit from Shari’ah approved activities with profit rates based on the investments and the flexibility of choosing the tenor.

Features:

  • Available in AED and USD
  • Minimum deposit of AED 4 million or USD 1 million
  • Shari'ah compliant
  • Available to individuals and non-individuals
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Mudaraba Call Account

Mudaraba is a special kind of partnership where you (‘Rab Al Mal’) provide money to the bank (‘Mudarib’) for investing in Shari’ah compliant assets that generate a specific income.

Features:

  • No service charges: A Mudaraba call account helps you generate profit on your balances without incurring any charges
  • Attractive slab-based profit: Higher balances give you the opportunity to earn higher profit rates on your accounts
  • Easy access to funds: You are entitled to unlimited transactions and profit is paid on the average quarterly balance

Mudaraba Call Account

How it Works:

Mudaraba is a special kind of partnership where you (‘Rab Al Mal’) provide money to the bank (‘Mudarib’) for investing in Shari’ah compliant assets that generate a specific income.

This income is shared between the investor, who is the account holder, and the bank, i.e. the Mudarib or trust manager. It operates under the ‘unrestricted’ Mudaraba principle and is designed to generate regular earnings in a Shari’ah compliant manner. The actual profit is distributed as per the agreed ratio at the end of each quarter. At Emirates NBD, we are authorised to invest the money according to the Shari’ah principles of Mudaraba.

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