HBL Islamic Foreign Currency Investment Deposit
An account for all those individuals who wish to maintain their savings in foreign currency and want to earn great periodic returns.
Key Features
Offered in USD, Euro and GBP
Open an account with just 1,000 units of any of the foreign currency specified above
Profit payout on maturity
Available tenures ranging from 1 month to 12 months
Facility for early redemption as per bank’s policy
Guiding Principle
HBL Islamic Foreign Currency Investment Deposit Account is based on the concept of Mudaraba. Under this arrangement, customer (Rab-ul-Maal) provides funds to HBL (Mudarib) for investment under Shariah guidelines. The actual profit at the end of period is shared between the customer and HBL as per the pre-agreed profit sharing ratio. Loss, if any, is borne by the customer and HBL will not be entitled for Mudarib share of profit.
Note: Terms and conditions apply. Withholding Tax is applicable as per applicable law. All facilities are subject to Islamic Schedule of Bank Charges (I-SOBC)
