Our Savings Accounts are based on the Islamic Investment Concept otherwise known as Mudharaba or surplus sharing. Your funds are utilized to make the best profit results which are then shared twice a year or semi-annually at pre-determined profit sharing ratios. This enables you to enjoy the benefits of your savings while maintaining compliance to the Shariah and convenient access to your funds anytime.
Our personal or joint account services are provided for individuals aged 18 or above, and can be opened as either a USD or MVR account. Application forms can be obtained from our branches and can also be downloaded from our website here. Along with the application form, locals will be required to present a copy and the original of their valid national identity card. Expatriates are required to present the originals and copies of their passport and work permit. In order to open an account you must deposit a minimum of MVR 1,000 for MVR accounts or USD 100 for USD accounts.
Minimum initial deposit for Rufiyaa Account : MVR 1,000.00
Minimum initial deposit for USD Account : USD 100.00