Murabahah Deposit Account Mda I Rate

Fixed deposits interbank deposits structured deposits current account savings account.

Murabahah deposit account mda i rate. Bilal would like to buy a boat that sells for 100 000 from billy s boat shop. This investment account by rhb islamic bank is a good choice if you re looking to keep your money growing with high profit rates surely. Commodity murabahah deposit i is an islamic investment account from rhb which gives you profit collected from transactions of commodities such as palm oil or copper based on the shariah concept of tawarruq. Interest is paid upon maturity.

The need for tawarruq in deposit structures. An islamic term deposit based on the contract of commodity murabahah. Minimum rm1 000 short medium and long term tenure. Example of murabaha.

Profit rate is made known upfront. In malaysia banks generally run islamic fd promotions several times a year where the rates of return are higher than the board rate. Flexible tenure of 1 3 6 9 and 12 months or any other period as determined by kfh malaysia from time to time. This account is based on shariah principles of wakalah with underlying commodity murabahah.

Interest rates are higher than for savings accounts. With this account you get. While it is fairly common to see tawarruq arrangement monetization of murabahah sale based transaction using commodities in financing structure tawarruq has also be widely used in deposit. Kfh international commodity murabahah deposit i is a globally accepted cash deposit product that maximises your returns with a pre determined profit rate.

From 1 month to 60 months. Under wakalah concept the customer muwakkil will appoint the bank as an agent to conduct and execute a particular transaction using the customer s deposit. Sign up for islamic fd promotions. Commodity murabahah deposit i cmd i a.

Us dollar pound sterling euro australian dollar kuwaiti dinar saudi riyal singapore dollar and japanese yen. Islamic term deposits based on the shariah concept of commodity murabahah cost plus sale where a specific asset as deemed fit by the bank is identified and used as the underlying asset for the sale and purchase transaction between bank and customer. To get the best return from your islamic fd deposits you can consider doing the following. Initial deposit is usd 3 000 or its equivalent.

All the above types of fixed deposits are eligible for pidm protection upto a limit of rm250 000 per depositor per member bank. Benefits of fixed deposits. To do so bilal would contact a murabaha bank that would buy the boat from billy s boat shop. Commonly used for.

Attractive profit rate than ordinary current and savings accounts low initial deposit amount.