Be a step ahead
Mudarabah
A 3 party connection between two clients and ICB in order to create a business contract, in which one party brings capital and the other brings the skills!
Requirements
- Original valid documents ID/ Passport/ Government ID
- Driving License
- Birth Certificate
- Commercial Registry copy (if its company)
- Valid passport copy of authorized personnel and copy of Articles of Association defining their powers
- Capital contribution shall be in cash
- Facility Application Form
- Other documents as per bank’s policy
- Processing fee of 0.5% of the financed amount
- Account Opening Fee $5
Features and Benefits
- Based on the Shariah contract of Mudarabah, which means profit sharing.
- Potential to earn higher returns with an indicative profit rate.
- Profits gained from investment are shared between Customer and Bank based on a previously agreed profit sharing ratio. Profits are paid monthly and are not subject to balance band or number of withdrawals.
- It is a short-term placement with the bank based on the shariah principle of Mudharabah or profit sharing
- Suitable for investors who are seeking the opportunity and flexibility to invest their cash surplus. The ratio of profit distribution is negotiable!
- The tenor may vary from 6 months up to 3 years.
- Higher levels of investment
- Desirable income of distribution
- Financial stability
We are here for you!
The bank follows Shari’ah Law which seeks a “just” and “equitable” distribution of resources.