Flexi Term Deposit
The flexi term deposit isstructured under “Wakala” Islamic Investment principles. ShabelleBank will have the authority to invest thedeposit amount, and return it with expected profits, according to the tenor of the investment. The additional flexibility is the ability to withdraw funds during the “Wakala” tenor. These accounts will be available in local and foreign currencies.
Benefits
Fully “Shari’ah”compliant.
Structured under Islamic “Wakala”investment concept.
Investor is expected to receive attractive yields on a semi-annual basis.
In case of falling profit rates in the market client will continue to enjoy the expected high-profit rates.
Highest safety and security.
Clients have the flexibility of withdrawal at each profit payment date.
SMS banking, mobile banking, and online banking availability.
Access to personal finance.
Requirements
ID card /driving license/passport.
Completed and signed application form.
Passport size photo (3 pcs)
Minimum Investment of 6,000 Birr.
Declaration of income.