- A minimum deposit of £50,000 is required
- Available in Pounds Sterling, US Dollars, and Euros (the minimum requirements for “foreign currency deposits” should be the equivalent value of £50,000 depending on the currency exchange rate on the date of the deposit)
- Competitive Halal profit rates on your savings
- Profits are paid on maturity
- Profit will be paid gross
- Funds must be available in the nominated account at the time of agreeing the rate and term of the deposit. Deposits may be made into the nominated account by cheque or by direct account transfer
- Available to Personal customers, Businesses, Charities, and Masjids
- You will not be able to terminate the agreement, add or withdraw funds before the maturity date
- The money will be invested only in Sharia compliant investments
This account has been approved by our Sharia Supervisory Committee.
To open an account or for more information click here
Alternatively, please call our Treasury Dealing Team from Monday to Friday 9am to 5pm on 0121 452 7331.
Sharia Approval - Certificate of Endorsement
Our Wakala Treasury Deposit Account has been approved by our Sharia Supervisory Committee.
Certificate of Approval for the Wakala Treasury Deposit account
To apply for our Wakala Treasury Deposit Account you can do so as follows:
Existing Customers with an IBB account
Its simple! As an existing customer simply download, print out and complete the Wakala Treasury Deposit Request Form
Wakala Treasury Deposit Request Form
Wakala Treasury Deposit Account Leaflet
Wakala Treasury Deposit Account Special Conditions
Please ensure you have read and understood the Wakala Treasury Deposit Account Special Conditions before you sign and return the form.
You can return the Wakala Treasury Deposit Request Form to us by post, to your local branch or fax it to us if you have a fax indemnity in place on your account.
If you don't have a current account
If you don't have a current account with us you will need to complete the following:
In order to open an account with us, you will need to download:
Application Form
Consumer Banking Terms and Conditions
Proof of Identity Leaflet
Please ensure you have read and understood the Consumer Banking Terms and Conditions, Telephone Banking Terms and Conditions and Online Banking Terms and Conditions before you sign and return the form to your local branch or post it to us.
The following information should also be read:
Tariff List
Personal Banking Booklet
Existing Customers - who don't have a current account
If you are an existing customer holding either a Savings Account, Direct Savings Account, Term Deposit Account, please download:
Existing Customers - Add new account Application Form
Please ensure you have read and understood the Consumer Banking Terms and Conditions before you sign and return the form to your local branch or post it to us.
What to do now:
When the application form has been completed return it to us along with the required documentation as stated in the Proof of Identity Leaflet.
This is a legal requirement for customers of all banks and is intended to prevent money-laundering.
Return the application form to either your local branch or post it to us:
Our postal address is:
Islamic Bank of Britain PLC
PO Box 12461
Birmingham
B16 6AQ
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