| Minimum Deposit Required | Annual Return | Annual Fee | Choice of Terms | Features | |
|---|---|---|---|---|---|
The Saudi Investment Bank - Murabaha Deposit
|
Minimum Deposit Required: SAR 50,000 | Annual Return: 1% | Annual Fee: SAR 0 | Choice of Terms: - | Features: Multiple Currencies |
The SAIB Murabaha Deposit allows you to make a healthy profit on your money in a safe and Shariah-Compliant manner. The Bank enters into a contract with you to invest your money in metals at an agreed price. You make a profit by selling the metals at a future date at a higher price
Features & Benefits:
- Minimum Deposit amount of SAR 50,000
- Investments can be made in Saudi Riyals, US Dollars or Euros
- Premature liquidation of investments is not allowed
- The SAIB Murabaha Deposit allows you to make a healthy profit on your money in a safe and Shariah-Compliant manner. The Bank enters into a contract with you to invest your money in metals at an agreed price
- Age:
- 18 years
- 15 years for Saudis holding a valid ID card
- Nationality:
- Saudis
- GCC citizens with valid passport, or national identity card (applicable only to citizens of Bahrain, Oman, Qatar and UAE), and proof of address in the Kingdom (evidenced by a utility bill, house rental contract, real estate title deed, or a letter from a Saudi citizen attesting to the GCC citizen’s address) along with their home country address
- Non-Saudis (and Non-GCC) holding a valid residency permit (Iqama)
- No administration fees
- Minimum investment amount of SAR 50,000 or equivalent in US Dollars or Euros
- Short Term Investment Agreement (Etifaqiaht Istithmar Qasseer Al Ajal)
- Authorization to Buy Commodities (Taukeel Bishira Silaa) provided to SAIB
- Murabaha Contract for Commodities (Aqd Murabaha Silaa) to sell the commodities to the Bank
