Iman Term Deposits are ideal for those looking for investments that earn high returns monthly, quarterly, twice annually and annually.
You, the client act as the Rab-ul mal (Investor) and the bank as the Mudarib (Fund Manager).
Funds are then placed in a pool with other investors, earning halal profits on a pre-agreed period ratio.
Main Features
Opening balance - Kes. 50,000 or its foreign currency equivalent
Investment Period - 1, 3, 6, & 12 months
Foreign Currency - GBP, USD and Euro
No maintenance fee
One can withdraw at maturity or re-invest for further period of your choice.
