Refers to a sum of money invested with the bank and profit is payable on every
interim profit payment date/at maturity (where applicable). The amount of actual
profit will only be known on maturity date based on prevailing gross return for
the contracted profit sharing ratio.
An account under which money is paid and accepted for the purposes of
investment, including for the provision of finance, in accordance with Shariah
on terms that there is no express or implied obligation to repay the money in
- either only the profits, or both the profits of
losses, thereon shall be shared between the person paying the money and the
person accepting the money; or
- with or without any return.
Unrestricted Investment Account
A type of investment account where the investor authorize the Islamic Banking
Institution to invest their funds in Shariah compliant assets without specifying
any restrictions or conditions on the management of the funds.
|Applicable Shariah concept
Mudarabah (Profit sharing)
A form of partnership between one who contributes capital (rabb al-mal/capital
provider) and the other who contributes efforts in the form of managerial skills
(mudarib/manager). Profit from the outcome of the partnership is shared between
the capital provider and manager according to mutually agreed profit sharing
ratio whilst losses are borne solely by the capital provider, provided such loss
is not due to the manager’s negligence or violation of specified conditions.
Waiver of Right*
(*Revision of Terms and Conditions for Mudarabah-based Account
Effective 16th January 2012, all new accounts opened and existing accounts
maintained under the contract Mudarabah shall be governed by the revised terms
and conditions (T&C).
The accounts affected are as follows:
Mudarabah Savings Account-i
Wadi Savings Account-i
Ijraa Savings Account-i
Pewani Savings Account-i
Al-Awfar Savings Account-i
Al-Awfar Junior Savings Account-i
General Investment Account-i
Sakinah Investment Account-i
Al-Awfar Investment Account-i
Special Investment Account-i
The additional clause in the terms
and conditions is:
“The customer shall agree upfront that their entitlement to the distributable
income, if any, shall be equal to the expected profit. In the event the actual
profit declared is higher than the expected used to calculate the dividend
payment, the customer shall waive his/her right to claim the difference from the
Bank. The Bank shall be entitled to such excess profit for its own account by
way of incentive fees for acting as Mudharib.”
In relation to this, if no instruction is given to the Bank on or before the
effective date, the existing accounts will be based on the revised terms and
Click here for Profit
Sharing Ratio and Indicative Rate|
For more details, kindly refer to the respective product disclosure sheet.
Important notice: The contents of the above
table, namely the details of Profit Sharing Ratio, Minimum Amount and Minimum
Tenure are subject to change at the sole discretion of the Bank and customers
should obtain confirmation from the Treasury Sales Team prior to making any
decisions based on the above.
By making a request for the SIA or GIA, the
investor understands the loss bearing or loss transfer feature of the Mudarabah
contract and acknowledge that the Bank has legal recourse against the investor
to enforce its rights.
This product will be insured under PIDM until
no longer required by the relevant regulations. Please refer to Bank Islam for
For further details, kindly contact our
Treasury Sales Team at 03-2090 1710 / 1711.
Note : Information contained herein is
accurate as of the time of publishing and subject to change in accordance with
applicable rules, regulations or guidelines issued by Bank Negara Malaysia from
time to time. All products offered by Bank Islam are subject to the Islamic
Financial Services Act 2013 and any applicable laws derived therefrom.
Eligible for protection by PIDM