Wakala Term Deposit
Al Yusr Wakala Term Deposit is a profit bearing deposit with fixed maturity periods starting from 1 month upto 5 years.
The product is based under the Islamic Shari’a principle of unrestricted Wakala bil Istithmar, where Al Yusr works as investment agent (Wakil) to invest the funds in its business to generate the return.
For Al Yusr Term Deposit, you will know your indicative Wakala profit rates at the time of opening the term deposits. The profit is paid to you on the maturity of your term deposit deposit period.
- Features and Benefits
- Allows Customers to earn Shari’a compliant Halal returns on their investments.
- Available for flexible term maturity such as 1 month, 3 months, 6 months, 12 months upto maximum 5 years.
- Indicative Wakala profit rates are known to customers at the time of opening deposits unlike Mudaraba deposits.
- Profit is paid on maturity of the term deposit period.
- The Minimum Deposit Amount is OMR 10,000
- Available in Omani Rial
- Government owned Pension Funds.
- Corporate customers.
- SME customers.
To apply and for more information please call Al Yusr Corporate Banking team on +968 24 754 689
Terms and conditions apply*