The Islamic current Accounts in L.E
The possibility of withdrawing and depositing at any time through all the ABE Islamic branches.
- Cheques issued from the bank can be dealt over the account.
- Transferring money from the account to any other account.
- Withdrawing from any ABE Islamic branch.
- Collecting cheques and bills for the benefit of the customers, and adding them to the account (current\ saving account).
- The possibility of opening a joint account (with the names of more than one person) where you can withdraw and deposit easily and freely.
- You can make a deposit or buy CDs from the current account and adding the interest to it.
- Salaries and pensions can be transferred to the account.
- Current accounts can be opened for juniors (under custody).
- The customer can give permanent instructions (to transfer certain amount to a certain authority or person – to make a time deposit).
- Periodical bank statements can be issued if needed.
- The account is opened for all the customers of Islamic investments (Murabaha – Musharaka- …etc.) to facilitate the repayment of any due installments.
- The interest is disbursed on a quarterly basis on the balances exceeding L.E 250,000(the interest equals 1/3 of the Islamic saving account interest).
Terms & Conditions:
- The account is for individuals and corporate.
- The cheques are used to withdraw from the account.
- The account is opened for individuals with an amount of L.E 1000.
- The account is opened for farmers with an amount of L.E 500.
- The account is opened for corporates with an amount of L.E 1000.
Persons entitled to holding accounts:
- Minors (in their name under custody\ guardianship).
The required documents:
For new customers:
- A copy of the valid I.D. card, (Original should be presented).
- Birth certificates containing the national number for minors (custodian decision, if any).
- Filling in the current account application.
- Filling the (K.Y.C.) form.
For current customers:
- Updating customer’s data.