Islamic Bank of Britain

Islamic Bank of Britain PLC

Phone: +44 (0)845 6060 786
Fax: +44 (0)121 452 7205

Wakala Treasury Deposit Account

To open a Wakala Treasury Deposit account you will need to have opened an Islamic Bank of Britain current or savings account with us. If you do not have a current account or savings account.
Minimum Balance

-A minimum deposit of £50,000 is required
-Profit paid monthly
-Available in Pounds Sterling, US Dollars, and Euros (the minimum amount for foreign currency deposits should be an equivalent value of £50,000, calculated using the currency exchange rate on the date of the deposit)
-Competitive Sharia compliant profit rates on your savings
-Profits are paid on maturity
-Funds must be available in the nominated account at the time of agreeing the rate and term of the deposit. Deposits may be made into the nominated account by cheque or by direct account transfer
-Available to personal customers, businesses, charities, and masjids
-You will not be able to terminate the agreement, add or withdraw funds before the maturity date
-The money will be invested only in Sharia compliant investments



This place is where you can write your valuable comment, suggestion, complain or share your views about this banking items. Other people can get the benefit from your input knowing how good/bad this item is. Your valuable feedback will help the bank to refine their products and improve the quality of services.
Comments powered by Disqus