To open a Murabaha Treasury Deposit Account you will need to have opened a Current/Savings Account with us.
The Murabaha Treasury Deposit Account is designed for high net worth individuals and corporates who have £100,000 or more that they wish to place on deposit over fixed periods of 1-60 months.
It is a Sharia’a compliant Treasury Deposit account that lets you profit from your savings while remaining true to Islamic teaching.
It operates in strict accordance with the rulings and guidance given by our Sharia’a Supervisory Committee
Sharia'a Principles mean that we cannot offer you interest on these accounts, instead, we ensure that through a commodity transaction arranged by us, you are able to invest your funds with us for an agreed period and for an agreed profit rate.
It is based on the Islamic principle of Murabaha.
Key features and benefits:
- Minimum deposit of £100,000 required
- Agreed profit rates at outset, paid at maturity
- Deposits may be made by cheque at our branches, or by direct account transfer
- Your money is invested ethically. We invest only in Sharia’a compliant goods and services.
Profit rates
The profit rates on your Murabaha Treasury Deposit Account would be market competitive and agreed with you at the start of each transaction.
To open an account or for more information click here
Alternatively, please ring a member of our Treasury Dealing Team direct:
Gary Carney, Treasurer : 0121 452 7320
Khayyam Nasar, Treasury Dealer : 0121 452 7331
For our terms and conditions click here.
Please read our Personal Banking Booklet if you require more information.
Sharia'a Approval - Certificate of Endorsement
Our Murabaha Treasury Deposit Account has been approved by our Sharia'a Supervisory Committee.
Certificate of Approval for Treasury Deposit account |
