Key Features of Deposit Products

Non-Remunerative Accounts
Remunerative Accounts

Non-Remunerative Accounts

The funds under these types of accounts are accepted under the concept of Qard. Withdrawals from these accounts can be made on demand. These funds are utilized by BAHL-IBD for shariah compliant financing and investment activities. The following accounts are offered under this category:

Islamic Current Account
Islamic Asaan Current Account
Islamic Asaan Remittance Current Account

Difference between Islamic Non-Remunerative and Conventional Non-Remunerative

Distinguishing Factor	Islamic Non Remunerative	Conventional Non-Remunerative
Utilization	Funds can only be utilized for Shariah compliant financing and investment activities.	No shariah based restriction on utilization of funds.
Free Services	No free banking services can be offered specifically on current account.	Free banking services can be offered specifically on current account.

Remunerative Accounts

The funds under these deposits are invested with the intention to earn returns on invested funds. BAHL-IBD offers remunerative deposits under Mudarabah arrangements. Under the arrangements the depositor is Rab-ul-Maal and bank is Mudarib. The funds generated under this category become the part of Mudarabah pool and are utilized for Shariah compliant financing and investing activities. The profit generated therefrom is shared between the bank and depositors in agreed ratio. In case of loss the Rab-ul-Maal i.e. depositors will bear the loss, provided loss is not due to negligence of Mudarib i.e. Bank.

BAHL-IBD offers two deposit schemes under this category:

Checking Deposits
- AL Habib Savings Account
- AL Habib Islamic Asaan Savings Account
- AL Habib Islamic Asaan Remittance Savings Account
- AL Habib Tijarat Account
- Al Habib Apna Individual Account
- AL Habib Mahana Amdani Savings Account
- AL Habib Islamic Senior Citizens Account
- AL Habib Islamic Young Savers Account

Non-Checking Deposits
- 7-Days Notice / Term deposit
- 1-month Term Deposit
- 3-months Term Deposit
- 6-months Term Deposit
- 1-Year Term Deposit
- 1-Year Mahana Munafa Term Deposit
- 1-Year Senior Citizen Term Deposit
- 3-Years Term Deposit
- 5-Years Term Deposit

Difference between Islamic Remunerative and Conventional Remunerative

Distinguishing Factor	Islamic Remunerative	Conventional Remunerative
Contract	Funds are accepted under Mudarabah agreement.	It is a Loan Contract.
Relationship	Relationship between Bank and Customer is that of Partners.	Relationship is of Debtor and Creditor.
Return	Profit rate are not fixed. Profit from Mudarabah Pool is distributed amongst the depositors.	Rate of return is fixed and guaranteed and depositor gets the return even if the bank suffers losses
Restrictions	Funds can only be utilized in Shariah compliant financing and investment activities.	No Shariah based restriction on utilization of funds.