The Islamic current Accounts in L.E

The possibility of withdrawing and depositing at any time through all the ABE Islamic branches.

The advantages:

  1. Cheques issued from the bank can be dealt over the account.
  2. Transferring money from the account to any other account.
  3. Withdrawing from any ABE Islamic branch.
  4. Collecting cheques and bills for the benefit of the customers, and adding them to the account (current\ saving account).
  5. The possibility of opening a joint account (with the names of more than one person) where you can withdraw and deposit easily and freely.
  6. You can make a deposit or buy CDs from the current account and adding the interest to it.
  7. Salaries and pensions can be transferred to the account.
  8. Current accounts can be opened for juniors (under custody).
  9. The customer can give permanent instructions (to transfer certain amount to a certain authority or person – to make a time deposit).
  10. Periodical bank statements can be issued if needed.
  11. The account is opened for all the customers of Islamic investments (Murabaha – Musharaka- …etc.) to facilitate the repayment of any due installments.
  12. 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:  

  1. The account is for individuals and corporate.
  2. The cheques are used to withdraw from the account.
  3. The account is opened for individuals with an amount of L.E 1000.
  4. The account is opened for farmers with an amount of L.E 500.
  5. The account is opened for corporates with an amount of L.E 1000.

Persons entitled to holding accounts:

  • Individuals.
  • Minors (in their name under custody\ guardianship).
  • Corporate.

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.

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