Mudaraba Savings Account

Modaraba is a profit-sharing partnership contract between a capital provider (Rab-ul-Mal) and a Mudareb (Fund Manager) in a joint investment. This investment can be a transaction, a project or a fund to generate healthy profits.

Al Wifaq offers the Sharia compliant Savings Account that conveniently helps you save for your future needs. Modaraba Savings s Account is based on the Islamic principle of ‘Mudaraba’ which means you can earn profit on your savings. The profit is declared and credited to your account on a periodic basis.

Benefits and features

  • No service charges
  • Free monthly e-statements
  • Interest rate of 0.03% per annum
  • Available in AED and major foreign currencies
  • Withdrawal subject to seven days’ notice


  • Individuals or businesses
  • Able to make a minimum deposit of AED 50,000 or equivalent foreign currency

Want to maximise interest on your money? Look at our Fixed Deposits.

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