Murabahah Deposit Account Mda I Rate

The account s is are to be placed for a tenure of twelve 12 months with varying step up interest profit rates every three 3 months ie 1st 3rdmonth 4 th 6 thmonth 7th 9thmonth and 10 12 month.

Murabahah deposit account mda i rate. Managed by our treasury department this product will allow your money to be invested in a safe and prudent manner. Murabahah sale price principal amount profit p principal amount t number of. Flexible tenure of 1 3 6 9 and 12 months or any other period as determined by kfh malaysia from time to time. Under wakalah concept the customer muwakkil will appoint the bank as an agent to conduct and execute a particular transaction using the customer s deposit.

This investment account by rhb islamic bank is a good choice if you re looking to keep your money growing with high profit rates surely. Us dollar pound sterling euro australian dollar kuwaiti dinar saudi riyal singapore dollar and japanese yen. Commodity murabahah deposit i cmd i a. Initial deposit is usd 3 000 or its equivalent.

Commonly used for. Profit rate is made known upfront. Bilal would like to buy a boat that sells for 100 000 from billy s boat shop. The account s is are entitled to enjoy higher rates for every subsequent three 3 months till the maturity.

Rebate ibra murabahah sale price p x r x t 365 or 366 x 50 p where. If the tenure of deposit is more than 3 months and withdrawal is made after completion of 3 months the customer agrees to provide rebate ibra based on the following formula. Fixed deposits interbank deposits structured deposits current account savings account. While it is fairly common to see tawarruq arrangement monetization of murabahah sale based transaction using commodities in financing structure tawarruq has also be widely used in deposit.

From 1 month to 60 months. This account is based on shariah principles of wakalah with underlying commodity murabahah. The need for tawarruq in deposit structures. To do so bilal would contact a murabaha bank that would buy the boat from billy s boat shop.

Commodity murabahah deposit i is an islamic investment account from rhb which gives you profit collected from transactions of commodities such as palm oil or copper based on the shariah concept of tawarruq. Example of murabaha.