“Three – year Islamic Certificates “El Murabeh”

The characteristcs of the certificate

Denomination EGP 1000، 5000، 10000
Duration 3 years
The periodicity of the return disburesment -Disbursed on a quarterly basis on account.
-Calculated from the date of purchase.
-The return rate is 2% more than the savings account interest rate. It is calculated at the end of the fiscal year based on the achieved results in accordance with the Islamic Sharia principles.
Redemption After 6 months from the date of issuance in accordance with the redemption values determined by the bank.
Other characteristcs The certificate may be kept at the bank upon customer’s request.

Advantages of savings certificates: 

-The certificate is nominal and its value is disbursed only for its holder.
-There is no maximum limit for purchasing.
-The certificate can be redeemed at any time after 6 months from the date of issuance in accordance with the redemption values determined by the bank .
-The certificates can be purchased from any of the bank’s Islamic transactions branches.
-The interest can be credited to the current or savings account upon the customer’s request .
-The Certificate amount upon redemption can be credited to the current or savings account upon the customer’s request.
-The customer can open a current or savings account upon his request.
-The possibility of keeping the certificate within the bank.
-In case of theft, loss or damage of the certificate, another one can be issued instead.

Terms and conditions:

•The certificate is nominal and can not be issued in joint names. It is un-assignable and non-transferable.
•A current or a savings account has to be opened at the branch that issues the certificate.

Persons entitled to open accounts:

•Natural persons
•Minors (by custodianship or guardianship)

The required documents:

For new customers:

•A copy of the valid ID card (After reviewing the original).
•Birth certificates containing the national number for minors (and the guardianship deed, if any).

For current customers:

The customer’s data updating shall be verified.

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