Bank Islami Pakistan offers the Islami Premium Currents Account which is based on Mudarabah account. It works on the basis that you provide funds to the bank on the basis of Mudarabah for investment in the Bank’s Shariah Compliant Assets. In this procedure, you will function as a Rabbul Maal (investor in Mudaraba) and the Bank will act as the Mudarib (Manager of the Mudaraba). The pool of customers’ funds will be formed by the Bank. The pool management helped in providing of financings to various corporate, individuals, other entities and the government which was based on various Islamic modes of finance such as Ijarah, Murabaha, Mudaraba, Musharakah, and other modes which would generate income. The pool will be calculated by the Bank on a monthly basis. The Bank and the Depositors will share the income on the basis of pre agreed profit sharing ratio. Mudarib’s share is called the profit share of the Bank.
Islami Premium Current Account Benefits
1. The Islamic Premium Currents Account is a general pool regular checking account that targets HNWI (High Net Worth Individuals), sole proprietorships, merchants, NGOs, businesses, etc.
2. The Islami Premium Current Account provides the following salient key benefits:
3. Islami Premium Current Account provides the facility of initial deposit requirement 100,000/-
4. Islami Premium Current Account provides the facility of profit calculation on monthly average balance
5. Islami Premium Current Account provides the facility of profit payment monthly
6. Islami Premium Current Account provides the facility of no restriction on number of withdrawals during a month
7. Islami Premium Current Account provides the facility of no restriction on the number of deposit transactions during a month
8. Islami Premium Current Account provides the facility of personalized service from Personal Banker
9. Islami Premium Current Account provides the facility of no restrictions on intercity transactions
10. Islami Premium Current Account provides the facility of Paypak Debit card service available (charges apply as per SOC)
11. Islami Premium Current Account provides the facility of free internet Banking service
12. Islami Premium Current Account provides the facility of round the clock phone Banking through 111-ISLAMI (475-264)
13. Islami Premium Current Account provides the facility of free account statement service
14. Islami Premium Current Account provides the facility of hold mail and Stop payment service
15. Islami Premium Current Account provides the facility of safe deposit lockers (subject to availability)
Islami Premium Current Account Eligibility and Required Documents
For Salaried Individual/Joint Account Holders:
1. The account holder must fill an account opening form.
2. The account holder must provide the valid copy of CNIC.
3. The account holder must provide the valid Passport (for non-residents only).
4. The account holder must provide the valid copy of employment proof i.e. Pay slip, Employment letter etc.
For Sole Proprietors:
1. The account holder must fill an account opening form.
2. The account holder must provide the valid copy of CNIC.
3. The account holder must provide the valid Passport (for non-residents only).
4. The account holder must provide a valid copy of NTN Certificate.
For Partnership/Society/Club/Trust/Association/NGO:
1. The account holder must provide the certified Copy of Partnership/ Trust Deed
2. The account holder must provide the certificate of Registration
3. The account holder must provide the signatures of all Partners on letter of Partnership
4. The account holder must provide the certified copy of rules
5. The account holder must provide the certified copy of resolution
6. The account holder must provide the copy of by-laws
7. The account holder must provide a copy of NTN Certificate
8. The account holder must provide the CNICs of all Partners
9. The account holder must provide the passports (for Non-residents only)
For Limited Company:
1. The account holder must provide the certificate of Incorporation
2. The account holder must provide the certificate for Commencement of Business (PLC only)
3. The account holder must provide the Memorandum of Association
4. The account holder must provide the articles of Association
5. The account holder must provide the current list of Directors
6. The account holder must provide the copy of Board Resolution
7. The account holder must provide the CNICs of all Directors
8. The account holder must provide the copy of NTN Certificate and Form 29
How to Apply for Islami Premium Current Account
In order to apply for Islami Premium Current Account, the interested customers should visit the nearest Bank Islami Pakistan branch and fulfill the application form along with the required documents and submit it with the branch manager.
Bank Islami Pakistan Helpline Numbers
Tel: +92-21-111-ISLAMI (111-475264)
Email: contact.center@bankislami.com.pk
Website: https://bankislami.com.pk/
